Asia Bizz: US Businesses Could Be Hampered Strongly When Trading With China
US feels that their businesses could be hampered strongly after they trade with China keep deepening. One of the main reasons this has evolved is because China is set to revalue its money, and this will directly hamper the trade relations between US and China, as there already has been suspicion that US companies have invested a lot of money in China secretly.
As the mid term elections in the US is around the corner, the lawmakers have directly blamed China for the unemployment situation in the US. In addition to this, the lawmakers seek that the Government gets tough with Beijing and that they should take a strong step to curb the ongoing unemployment situation.
The US authorities needs to take a firm decision over the US China trade. The Congress is looking ahead to treat the undervalued Chinese Yuan as an export subsidy and slap higher duties on Chinese goods. But this does not look like a clear initiative by the US government to tackle the Chinese issue, rather it will only tend to make the relations worse.