U.S. companies are concerned that they are not getting a fair chance at contracts linked to China's 4 trillion yuan ($585 billion) stimulus package, a leading U.S. business group said on Friday.I hate to say it but, tough. After Paulson's largely forgotten gestures at opening up the Chinese market in certain areas for American business, I hardly think that now is the best time to renew such efforts. Plus, you need to factor in Obama's more combative rhetoric towards China.
For its part, Beijing has strongly criticized the 'Buy American' provisions of the U.S. stimulus package finalized in February, saying it is opposed to any rise in protectionist measures in the wake of the global economic slowdown.
But Myron Brilliant, senior vice president of the U.S. Chamber of Commerce, said that China's own stimulus package lacked clarity in terms of how foreign firms can bid for contracts on infrastructure projects.
"We are very concerned that the stimulus package may have a significant local bias," Brilliant told reporters in Beijing. There is certainly a perception in the foreign business community that a lot of these contracts are going to domestic providers. And there is, I think, a legitimate concern that there isn't a fair and transparent way for the foreign business community to invest in these projects and to contribute."