The Biden admin is in a tough spot….
It IS worried that the amount of US money that the Chinese trade with America is against this countries national security interests ….
In simple terms?
China IS making this country’s economic well being MORE dependent on them….
China is NOT a Democacry…
It can handle economic turbulence America cannot…
So we find out that Goldman Sachs is working to do MORE business with China while the Biden admin is working against this…..
Remember ….
China/US trading amounts to huge sums of money and Trump tried to slow it with traffics but THAT has had little to no effect actually…
On other levels Chinese assets have been hacking American companies and China military actions against Taiwan have the Pentagon and the Taiwanese worried….
This is a 4 demential chess game being played with real people….
“Our priority is not to get access for Goldman Sachs in China,” Sullivan said at the White House. “Our priority is to make sure that we are dealing with China’s trade abuses that are harming American jobs and American workers in the United States.”
Sullivan’s remarks may have been a blow to Goldman’s pride, but they left its overseas ambitions intact. Despite the rebuke, and the deteriorating U.S.-China relationship, Goldman is on the brink of achieving a decades-old dream: becoming the first foreign bank to obtain 100 percent ownership of its Chinese joint venture.
Goldman’s determined march into China shows how the interests of corporate America and the White House are continuing to diverge despite the election of a more conventional president.
If some executives had hoped the new administration would resume a business-friendly approach to China, the early signals from the White House and the diplomatic front have been disappointing. U.S. and Chinese diplomats, in their first high-level meeting since President Biden’s inauguration, swapped acrimony and insults this past week during an extraordinary two-day summit in Alaska.