Pushback to President Biden's executive order on outbound investment has been swift from all sides.
At this spring’s China Business Conference, the president and chief executive officer of the U.S. Chamber of Commerce made an impassioned case for restraint. When it comes to America’s China policy, Suzanne Clark said she wanted the D.C. audience of politicians, executives, bureaucrats, journalists and scholars to remember one thing: “Not every economic interaction with China poses a national security risk.”
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Chinese companies have decided that the best place to make money right now is outside of China. The phenomenon known as chu hai (出海), which translates to “go global,” has taken hold, marking a kind of second 'go out' initiative. This time, however, Chinese companies are being met with scrutiny and suspicion.
The former Commerce Secretary and ambassador to China talks about how his background shaped his approach to dealing with Beijing, the pivot to Asia and negotiating Chen Guangcheng's release.
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