Tuesday, January 18, 2011

China Softens the Ground Before Hu Visit, with $$$ for Corporate Elite

A Chinese trade mission has signed $600 million in deals with U.S. companies ahead of President Hu Jintao's visit to Washington this week.

China frequently announces such deals in connection with high-profile foreign trips by its leaders.

The six deals signed Monday in Houston by a group of Chinese companies cover imports of porcelain and cotton and an agreement to collaborate on development of solar power equipment, the Chinese government said on a website. It gave no details of individual contracts or the companies involved, though you can be sure the firms are politically connected.

Deals announced during Hu's trip are expected to be total the billions. It's not exactly free markets in operation, when deals are announced around political trips, but it sure does advance the Chinese government agenda.

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