WASHINGTON (AP) - US presidential candidates talk tough on fighting what they see as China's unfair trade policies, but Chinese companies are investing more than ever in the US and supporting thousands of American jobs.
With two separate billion-dollar deals in shale oil and gas, a struggling chain of movie theatres and other major ventures in the works, investment from China is set to hit record levels in 2012. Its cash-rich companies have expanded their presence in the US in the past three years, keen to get closer to the lucrative American market and tap US know-how.
The jobs created far from offset what American politicians and some economists see as the millions of jobs lost because of China's currency policies and theft of intellectual property. Also, Chinese investment, especially in telecommunications and other sensitive businesses, isn't always welcome.
But the growth in investment underscores how the relationship between the US and China is more complicated than depicted on the campaign trail. Cheap Chinese products have benefited American consumers, and China's massive purchases of Treasury securities have helped finance the US budget deficit. And while Chinese investment in the US is barely off the starting blocks given the size of its economy, some believe it could become a major source for American jobs.
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