US commerce secretary warns China will be 'uninvestable' without action on raids, fines
Commerce Secretary Gina Raimondo says she warned Chinese leaders that U.S. businesses might stop investing in their country without prompt action to address complaints about worsening conditions due to raids on firms, unexplained fines and unpredictabl... SHANGHAI -- Commerce Secretary Gina Raimondo on Wednesday said she warned Chinese leaders that U.S. businesses might stop investing in their country without prompt action to address complaints about worsening conditions due to raids on firms, unexplained fines and unpredictable official behavior. Raimondo’s comments add to pressure on Chinese leader Xi Jinping's government, which is trying to revive investor interest and reverse an economic slump. Business groups say confidence among foreign companies is at an all-time low. Official figures show foreign investment plunged in the latest quarter. Raimondo visited Beijing as part of U.S. efforts to restore relations that plummeted to their lowest level in decades due to disputes abou...