After an especially rocky month for the Chinese Government and its market, the Chinese President Mr. Xi has arrived in the United States to speak with investors, tech savvy entrepreneurs, and politicians. His visit includes trips to Seattle and then on to Washington. During the trip Mr. Xi addressed several concerns specifically about the Chinese Market, stating the actions taken by the government were taken to prevent massive panic, that a slower growth should be expected in this volatile and complex time in the global market, and that China’s economy was operating within the proper range despite the recent pressure.
One of the major focuses of the trip shall be the budding relationship between tech firms and the Chinese Government. China is known for its tech infrastructure and with this visit Xi is courting some of the brightest American tech firms. He met with a variety of tech heads including Warren Buffet, Jeff Bezos, Tim Cook, and Bill Gates. The agenda for this meeting revolved around improving trade relations, economic development for both countries, and the impact tech has on climate change. This comes on the heels of China’s commitment to import clean air technology to China from the United States, and the signing of an agreement between China and several State Governors to develop new clean air technologies.
He also met with some of the biggest names in the tech industry on Tuesday then toured a Boeing factory where a variety of Boeing airplanes are manufactured. This visit was followed by the announcement of a large agreement between Boeing and the Chinese government that involves the purchasing of 300 more new Boeing plans this year alone. The deal also includes the opening of a Boeing factory in China that will paint and finish the interiors of Boeing’s 737. This agreement has been met with pushback from a variety of unions that work for Boeing. The unions argue that this new deal will take jobs away from the U.S. while Boeing says that is not the case and they even have plans to increase the American workforce this year.
Xi also expressed a willingness to discuss internet security and cyber crime, a hot spot of contention between the U.S. in China. Xi said that China is ready to host a “high level” dialogue to fight cyber-crime while denying that the Chinese Government has had any involvement in the hacking of the U.S. Government.
After his stay in Seattle, Mr. Xi headed to Washington to address all of these issues and possibly more with the President. Now more than ever the relationship between China and the U.S. is complicated and multifaceted. There are many issues to work out but the fact that the two leaders are speaking shows optimism on both sides and a willingness to work together.
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