China mulls US manufacturing fund ahead of Xi-Trump summit, business leader says
Leaders to secure ‘very positive’ outcomes but no ‘grand bargain’ during talks in Beijing, AmCham China chair predicts
China and the US are likely to secure several “very positive” outcomes but not a “grand bargain” at their presidential summit in April, according to the board chief of a major American business lobby.
Speaking at an event at the Lowy Institute think tank in Sydney, the Beijing-based lawyer said another issue “still out there” was for China to invest in manufacturing in the United States. He added that China had shown receptiveness to such proposals but would require “protection” in return.
“Apparently there is a discussion about the possibility of Beijing setting up a fund to encourage Chinese investors to make manufacturing investment in the US, and similar to that encouraged of Japan, Taiwan and South Korea,” Zimmerman said.
“You won’t see a grand bargain worked out at the April meeting, but you may see certain deliverables that are very positive,” he said during the talk, adding that the pressure of the US midterm elections in November could contribute to Trump’s eagerness for those outcomes.