China and US should conclude BIT talks before election
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E-mail China.org.cn, March 24, 2016
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Chen Deming, former commerce minister. [China Daily] |
"Reinforcing the relationship between China and the U.S. will be more challenging and even more important now as the presidential election campaign creates a tendency among leaders running for office to blame U.S. economic problems on other countries," said Yao Zhizhong, deputy director of the Beijing-based Institute of World Economics and Politics at the Chinese Academy of Social Sciences.
Reuben Jeffery, president of Rockefeller and Co, said the validation of BIT can help both Chinese and U.S. companies operate business in each other's market independently in the long term, instead of looking for local partners to form joint ventures. This would be fairly flexible for them to control their finance operation and make investment decisions.
U.S. companies had invested $77.5 billion in China by the end of 2015 and China had invested $46.6 billion in the U.S. during the same period, data from the Ministry of Commerce showed. This year, China’s outbound M&As in the U.S. reached US$38.6 billion, at least four times of that in the full year of 2015, according to Thomson Reuters data as of Monday.
Bilateral trade reached US$558.39 billion last year, up 0.6 percent year-on-year from 2014.
"The bilateral investment treaty certainly can provide one of the best opportunities to cut investment barriers and increase transparency level in both countries and ensure a level playing field among all companies, as well as improving protections for Chinese and U.S. investors in each other's markets," said Merit Janow, dean of the School of Management and Public Affairs at Columbia University.
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