Big business scrambles to avert U.S. Cold War with China



Gavin Bade | Politico

U.S. corporate giants are scrambling to beat back anti-China sentiment in Congress and the Biden administration, aiming to avert crackdowns that would hurt their ability to do business in the world’s second-largest economy.

Since the spring, lobbying groups including the Chamber of Commerce, the U.S.-China Business Council and the National Retail Federation have been campaigning against congressional and White House moves to toughen trade and finance rules in response to China’s human rights abuses.

The groups say companies abhor the intimidation, forced labor conditions and general atmosphere of repression in China, particularly in Hong Kong and the northwestern region of Xinjiang. But they are also concerned that a trade crackdown could strangle investments U.S. firms have made in the world’s most populous nation.

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