United States president Donald Trump\u2019s visit to Beijing, China has resulted in over $250 billion in deals.<\/p>\n
Trump and the Chinese President Xi Jinping signed multiple trade agreements on several international companies, including Boeing Aircraft Industries, General Electric and Qualcomm for the manufacture of computer chips and telecommunication hardware.<\/p>\n
A number of Chinese and US companies have also signed agreements during the framework of Trump\u2019s visit to China, for a total of $9 billion.<\/p>\n
\u201cWhat happened is a miracle\u201d, declared Chinese commerce minister Zhong Shan in a Beijing briefing.<\/strong><\/p>\n Many analysts believe that the large amount of these agreements, a quarter of a trillion dollars, is a clear sign that Trump is eager to address the current trade deficit between the two countries, and build a strong, solid commercial relationship.<\/p>\n Despite all this, some US companies still remain unsure about entering the Chinese market, especially with the strong and ever-growing presence of the ruling Communist Party in China, concerning foreign firms<\/p>\n The chairman of the American Chamber of Commerce in China, William Zarit, claims that the deals point to a \u201cstrong, vibrant bilateral economic relationship\u201d between the two countries\u201d. He added that it is necessary to focus on setting good grounds in order for these agreements to prosper, as currently US companies are still disadvantaged when doing business in China.<\/p>\n Some US based companies are still facing restrictions in China.<\/p>\n Currently, US companies such as Facebook and Google are still banned in China. Automobile makers like Ford and General Motors are forced to operate through joint ventures only, and Hollywood movies are going through a very strict censorship process.<\/p>\n Some believe that through these agreements, Trump is trying to be seen as a maker of huge reforms, while distracting attention from a lack of necessary changes in the bilateral trade relationship between the two countries.<\/p>\n Nonetheless, some crucial deals were announced, including an investment of $83.7 billion by China Energy Invest Group in shale gas projects and chemical manufacturing projects in West Virginia. This represents the first big investment of China\u2019s newly established energy company.<\/p>\n Qualcomm, a company receiving more than half of its revenues in China, has also signed a $12 million non-binding agreement with three major Chinese phone makers, which they consider to be \u201clong-term\u201d relationships.<\/p>\n Boeing also signed a deal with China Air Supply Holding Co., to sell more than 300 aircrafts for a valuation of $37 billion.<\/p>\n The Chinese market is apparently becoming a target for major American companies, pointing to the fact that the Chinese economy is finally becoming more open to foreign companies aspiring to enter the world\u2019s largest market.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" United States president Donald Trump\u2019s visit to Beijing, China has resulted in over $250 billion in deals. Trump and the Chinese President Xi Jinping signed multiple trade agreements on several international companies, including Boeing Aircraft […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":50,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,2],"tags":[24,9,14,10,23],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/49"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=49"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/49\/revisions"}],"predecessor-version":[{"id":51,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/49\/revisions\/51"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/50"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=49"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=49"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=49"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}