Washington Warns Beijing: Patience of American Companies is Wearing Thin

U.S. Commerce Secretary Gina Raimondo warned China on Sunday that the patience of American companies is beginning to "wear thin," stating that businesses want "a predictable environment and a level playing field." The United States and China have been the largest trading partners, but Washington is currently increasing its trade relations with Canada and Mexico, while Beijing is looking to strengthen ties with Southeast Asian countries. Raimondo said in a pre-recorded segment during her appearance on "Face the Nation": "Businesses need a predictable environment and a level playing field, and they deserve it. We hope that China will respond to this message so that we can establish a stable and growing trading relationship." She noted that American companies are facing new challenges, including the imposition of large and unjustified fines and raids on their offices. Raimondo added that she informed Chinese officials that her email was hacked before her trip to China in late August. In her interview with the program, she stated, "I don’t think there’s any doubt that the Chinese economy is slowing. They are certainly facing real and serious challenges in the real estate sector." She also mentioned that the Chinese economy performed better when it was more transparent and market-oriented.