Fmr. U.S. Undersecretary of Commerce Talks Business in Dothan

By: Rachel Yonkunas Email
By: Rachel Yonkunas Email
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More than five million Americans work for U.S. subsidiaries for foreign companies. Dothan Mayor Mike Schmitz is looking for Chinese investment because China is Alabama’s number two export country.

Former U.S. Undersecretary of International Trade and Commerce, Francisco Sanchez, traveled to China for years. He said the country is not as black and white as it used to be. Although some companies are reviewed by National Security, 98 percent of Chinese investments come to the U.S. without concern.

“We have mechanisms in place to review those investments and make sure that we're comfortable, as a country, that our National Security isn't being compromised,” explained Sanchez.

On the economic side, China is becoming westernized. They have adopted free market principals, but the U.S. and China still have very different political views. Sanchez said these new business relationships could change that.

“I believe very firmly that as two countries become interdependent, economically and commercially, it has a positive impact on the political relationship and reduces conflicts,” said Sanchez.

The Southern Delegation is striking while the iron is hot.

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