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Follow the money.
NEW YORK: The relationship between China and the United States is not the best, and it has in no way improved as a result of the coronavirus.
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In recent weeks, President Donald Trump repeatedly hit China and blamed them for the United States being so affected by the virus. Trump also claimed that the virus comes from a laboratory in Wuhan.
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Extreme decrease in investment.
Now, recent figures show that China is brutally retaliating against the United States and President Trump in terms of investment in the country. The figures show an extreme decline in investment so far in 2020, but also show that the Chinese have already reduced their investments in the US. USA In 2019.
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The value of China’s new investment in the US USA It fell to just $ 200 million in the first quarter of 2020, below an average of about $ 2 billion per quarter in 2019, figures from the Rhodium Group and the National Committee on United States-China Relations show.
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– Both Washington and Beijing accused each other of not responding adequately to the virus, which deepened the political and economic tensions that already existed in the relationship, according to the recent report. This photo shows a painting in Berlin of President Donald Trump and President Xi Jinping, both wearing face masks.
Photo: John MACDOUGALL / AFP
According to the Financial Times, the decline comes after China’s direct investment in the United States last year fell to the lowest level since 2009.
In 2018, the Chinese invested around $ 2.7 billion during the quarter in the United States, while in the peak years of 2016 and 2017, they invested a total of $ 8 billion in the quarter.
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In total, the Chinese invested around $ 5 billion in the United States in 2019, below the $ 5.4 billion in 2018, and heavily below 2016, when they invested a total of $ 45 billion in the United States.
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China and the United States accuse each other
The report claims that Chinese companies were previously free to make investments with Americans than they do today.
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– Both Washington and Beijing accused each other of not responding adequately to the virus, thus increasing the political and economic tensions that already existed in the relationship, according to the report.
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– The deterioration in bilateral relations and the growing backlash against China in the United States make it likely that Chinese buyers will also face significant political opposition to any major acquisitions, the report states.
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According to the Financial Times, there was also a significant decrease in Chinese venture capital investment, from $ 4.7 billion in 2018 to $ 2.6 billion in 2019.
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But it also goes both ways. U.S. venture capital investment in China fell from $ 19.6 billion in 2018 to around $ 5 billion in 2019.
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Fox Business, on the other hand, reports that US investment in China increased last year from $ 13 billion in 2018 to $ 14 billion in 2019. However, Fox says this is due to previously announced projects, such as the plant. of Tesla in Shanghai.
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In January of this year, Trump and Chinese Vice Premier Liu He signed “phase one” of a new trade agreement with China. But the crown pandemic could cause the positive effects of the deal to evaporate, according to the Rhodium Group report, according to Reuters.
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