Why Chinese investors can still expect a warm welcome in many American cities
City leaders want Chinese investment to help stimulate their local economies, especially in manufacturing projects that are hard to source elsewhere, said Ni Pin, chairman of the China General Chamber of Commerce branch in Chicago.
'There are a lot of people who want to come over here,' he said. 'They are more concerned about geopolitics. The question is, 'are you welcome here?''
Chinese manufacturers see the potential to make money in the wealthy United States market, he said, and US President Donald Trump's tariffs on Chinese imports have increased the urgency for companies to produce in the US for domestic sales.
Ni said that 'yelling and screaming' by national-level political leaders had deterred some investors from applying for investment permits because they feared that American officials at the local level would also prefer they stay away.
In the Midwestern states of Illinois and Wisconsin, mayors are 'very receptive' to Chinese investment, said Ker Gibbs, a partner at American business advisory Foresight Restructuring, citing personal contacts in the region.
The mayor of Wausau, a city in Wisconsin with a population of 40,000, is explicitly looking for Chinese investments linked to agriculture and possibly the automotive sector, given that industry's prominence in surrounding parts of the Midwest, Kerr said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
35 minutes ago
- South China Morning Post
Hong Kong stocks snap 3-day decline on optimism about US trade deals
Hong Kong stocks rose on Tuesday, arresting a three-day decline, on optimism that the US will sweeten its tariff deals with key trading partners after the Trump administration postponed the effective date of new levies on 14 countries. Advertisement The Hang Seng Index climbed 0.3 per cent to 23,960.03 as of 10.01am local time, while the Hang Seng Tech Index gained 0.5 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index both added 0.2 per cent. Tech stocks led gains, with Baidu rising 2.6 per cent to HK$88.05 and Kuaishou Technology advancing 2.4 per cent to HK$64.55. Xiaomi gained 1.7 per cent to HK$58.20 and Tencent Holdings added 0.2 per cent to HK$503. US President Donald Trump told Japan and South Korea that new tariffs would take effect on August 1 after applying a 25 per cent rate on the two countries, fanning speculation that there would be additional wiggle room in future negotiations. The tariff rates imposed on other countries including Malaysia, Indonesia and Laos ranged from 25 to 40 per cent, according to the White House. Advertisement US Treasury Secretary Scott Bessent said in an interview with CBNC that he expected to meet with his Chinese counterpart in the coming weeks to engage in talks on trade and other issues.
South China Morning Post
3 hours ago
- South China Morning Post
Netanyahu meets Trump at White House as Israel, Hamas discuss Gaza ceasefire
US President Donald Trump hosted Israeli Prime Minister Benjamin Netanyahu for White House talks on Monday, while Israeli officials held indirect negotiations with Hamas aimed at securing a US-brokered Gaza ceasefire and hostage-release deal. Netanyahu's visit follows Trump's prediction, on the eve of their meeting, that such an agreement could be reached this week. Before heading to Washington, the right-wing Israeli leader said his discussions with Trump could help advance negotiations under way in Qatar between Israel and the Palestinian militant group. It was Trump's third face-to-face encounter with Netanyahu since returning to office in January, and came just over two weeks after the president ordered the bombing of Iranian nuclear sites in support of Israeli air strikes. Trump then helped arrange a ceasefire in the 12-day Israel-Iran war. Trump and his aides appeared to be trying to seize on any momentum created by the weakening of Iran, which backs Hamas, to push both sides for a breakthrough in the 21-month Gaza war. He said he also wants to discuss with Netanyahu the prospects for a 'permanent deal' with Iran, Israel's regional arch-foe.
South China Morning Post
4 hours ago
- South China Morning Post
US retreat from foreign aid highlights China's steady outreach
As the United States retreats from foreign aid and scientific collaboration with developing countries, China is going full steam ahead. Through the Belt and Road Initiative and experience gained from humanitarian provision of vaccines during the Covid-19 pandemic, Beijing is expanding its science and technology outreach. This comes as Washington is pursuing a far more insular 'America first' policy that has drastically cut foreign aid and reduced collaborative scientific projects across the Global South. It is not that China is filling a void left by the US; rather, its long-standing global efforts have become more noticeable. At a think tank event in Washington, a leading expert on US-China science cooperation warned against the American retreat in light of China's efforts. At a forum in Chengdu widely covered by Chinese media last month, officials announced a new 'double thousand' plan to deepen collaboration with belt and road countries in areas such as joint research and scientific exchanges. According to the State Council's website, China has scientific agreements with more than 80 foreign governments. Meanwhile, the US State Department is reportedly shutting down its Office of Science and Technology Cooperation with other countries. The Belt and Road Initiative offers ample opportunities for member states to work with a science and tech powerhouse second only to the US. Moreover, so-called vaccine diplomacy during the last pandemic has given mainland officials important lessons on how to combine foreign aid, joint projects and international diplomacy. Vaccine research is one of many areas where breakthroughs are being made in China. An experimental nanovaccine is being developed that could stop plaque building up in arteries, a condition that can cause blood clots, strokes and heart attacks. Another is an immunity 'superbooster' , a vaccine that can potentially work against multiple diseases. China can help developing countries that lack medical and scientific networks to promote and increase inoculation rates, and help produce cheap but effective conventional vaccines, along with knowledge transfer. Such efforts will save lives and build goodwill.
