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Latest Business News

China Begins U.S. 'Buying Mission'

Wednesday, May 09, 2007 11:31:40 PM
By MICHAEL LIEDTKE

Cisco executive Daniel Scheinman smiles as he signs papers of agreement in San Francisco, Wednesday, May 9, 2007 during a formal signing ceremony between U.S. and Chinese companies. A Chinese delegation signed contracts with American companies to buy billions of dollars worth of U.S. goods in an apparent effort to ease trade tension between the two countries.  (AP Photo/Paul Sakuma)SAN FRANCISCO (AP) - China is on another U.S. shopping spree that appears to be as much about salesmanship as the country's rapidly growing purchasing power.

Hoping to ease tensions raised by the massive trade imbalance dividing two of the world's economic powers, China has periodically come to the United States on so-called "buying missions" to demonstrate the country's willingness to import more goods and services.

China kicked off its latest campaign Wednesday in San Francisco with a commitment to buy $4.3 billion in U.S. technology.


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