Biz group: BIT not a reward for China

BIT would be a significant win, the head of the U.S.-China Business Council said on Monday. John Frisbie, president of the business group, wrote in an op-ed that such a treaty with China would provide U.S. companies with much-needed certainty in a challenging market and should not be seen as a reward to Beijing for bad behavior on cybersecurity or in the South China Sea. “Critics say that we should not be rewarding China’s bad behavior in cyberspace, the South China Sea, and other areas by negotiating an investment treaty,” he said in USCBC’s publication, the China Business Review. “Those issues must be high on the bilateral agenda, but actually the opposite is true regarding the investment treaty — it doesn’t reward China for anything, but it does fit squarely into the notion of bringing more U.S.-based rules into China’s economic regime.” U.S. businesses have seen little progress so far from economic reforms begun three years ago but Xi could turn that around this week by moving forward with a bolder approach to the BIT talks, Frisbie said.