FirstFT: US pledges access to Chinese markets

FirstFT: US pledges access to Chinese markets

Gina Raimondo, US commerce secretary, said the Biden administration would push for American companies to trade with Chinaeven though Washington is taking an increasingly tough posture on Beijing over human rights and national security.

Raimondo pledged to help US companies gain access to China’s markets, and said she would seek to travel there herself once the coronavirus pandemic eased. “There’s no point in talking about decoupling,” Raimondo said.

“As the president has said, we have no interest in a cold war with China. It’s too big of an economy — we want access to their economy, they want access to our economy.”

However, Raimondo yesterday emphasised the need to collaborate with Europe to slow China’s innovation. Her remarks come as Washington and Beijing spar over China’s military activity around Taiwan, its treatment of Uyghurs in the Xinjiang region and its crackdown on democracy in Hong Kong. (FT, CNBC)

What do you think of Raimondo’s remarks? Let me know at [email protected]. As always, thanks for reading FirstFT Asia — Emily

Five more stories in the news

1. US stocks suffer biggest loss since May The government bond sell-off that began last week on the prospect of higher interest rates ricocheted into the $51tn US stock market, weighing