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China accuses U.S. of blocking foreign investment to protect their companies

Reuters / EP

05/04/2011 - 7:57

The U.S. Secretary of Commerce Together, Gary Locke, has accused China of discouraging foreign investment to protect their companies, what has been committed to combat these barriers, if the Senate confirms his appointment as ambassador in Beijing.

In a speech at the Woodrow Wilson Center, Locke noted that "often" present U.S. companies in China "are driven out of whole industries and forced to remain outside the circles of information as a condition to continue there ".

specifically noted the "opacity" of China's legislation on issues related to intellectual property rights, as patent registration, or prohibition of any technology transfer, which in practice limits the operations of foreign companies. Sini

however, said that U.S. Chinese companies are seen as "something good", so just put obstacles to the settlement, except for a small number of cases, which are considered a security threat.

"This imbalance of opportunities is a major barrier to further develop the commercial relationship between the U.S. and China," he warned Locke, who has lamented reverse this trend after a "fruitful" period economic liberalization. Commitment
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addition, Locke pointed out that the Chinese authorities promised to correct these behaviors in high-level economic forums held over the last two years, especially in markets led by U.S. companies.

These statements come a week before the Treasury secretary, Timothy Geithner, and Secretary of State, Hillary Clinton, meet with the Chinese authorities under the U.S. Strategic Economic Dialogue, China, celebrated with annually.

For its part, China Geithner reiterated the need to comply with the variables international trade, eliminating protectionist measures, and noted the possibility that the U.S. mimics this behavior, if not corrected eventually.