The president’s administration lifts some controls on Chinese firms ahead of the trip.
Secretary of Commerce Gina Raimondo is scheduled to travel to Beijing next week. Ahead of her visit, Washington has removed 27 Chinese entities from controls imposed under its “unverified” listing.
The Department of Commerce said Secretary Raimondo “looks forward to constructive discussions on issues relating to the U.S.-China commercial relationship, challenges faced by U.S. businesses, and areas for potential cooperation.”
Meanwhile, at a BRICS (Brazil, Russia, India, China, and South Africa) meeting in South Africa, Chinese President Xi Jinping has called on those and other nations to join him in boosting a coalition of nations to assert influence on international affairs and economics in the Global South.
The BRICS goal is to rival the G7 and G20, and President Xi says he is confident the South African summit will be an “important milestone” in achieving those goals. As many as 40 other countries have expressed interest in joining the bloc to rival U.S. and European economic dominance.
As the Lord Leads, Pray with Us…
- For discernment for Secretary Raimondo as she prepares to travel to China.
- For Commerce Department officials as they evaluate the competitiveness of the U.S. versus China.
- For the president and his administration to seek God’s wisdom in the plans and actions they take regarding China.
Sources: Bloomberg, Financial Times, Reuters
