China firms’ US employment rises 46% in 2016
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Chinese controlled firms employed 141,000 Americans at the end of last year, a 46 per cent increase over 2015 according to new research published on Tuesday.
The new figures, released by the Rhodium Group, highlight the increasing interdependence of the world’s two largest economies at a time when trade frictions are growing.
Earlier this month US President Donald Trump and his US counterpart, Xi Jinping, launched a new round of trade talks aimed at reducing bilateral imbalances. The Trump administration wants to reduce America’s $347bn trade deficit in goods with China.
The surge in US employment by Chinese controlled firms follows an unprecedented buying spree in 2016. Last year Chinese investment in the US more than tripled to $46bn.
“Chinese investment in the US is complementary to the current administration’s focus on creating and protecting American jobs,” said Stephen Orlins at the National Committee on US-China Relations, which co-authored the new report. “And there is ample room for additional [jobs] growth if leaders on both sides can navigate regulatory hurdles and regulatory barriers.”