Commerce Promotes China
While some investors are getting queasy about China, the U.S. Commerce Dept. is more bullish than ever and is gearing up to push hard for deals for American companies. The "war room" at the International Trade Administration (ITA) of Commerce has compiled a list of transportation, energy, power, and telecommunications projects either in progress or on the books in China. Total value: $15 billion. Commerce is also plugging the huge Hong Kong airport project. "There are tremendous opportunities here for everybody," says ITA Under Secretary Jeffrey E. Garten. "This is a full-court press." Garten leaves in early April for a week-long China swing. Commerce Secretary Ronald H. Brown will return with a bevy of CEOs in the summer.