On Aug. 6, Sen. Maria Cantwell announced the U.S.–China Market Engagement and Export Promotion Act. This act will help small and medium sized businesses enter China’s economy.
Cantwell says if small and medium-size businesses can export to China, more local jobs can be created. Small and medium sized businesses do not currently have the resources to enter into China’s economy.
Therefore, Cantwell proposes that this act will give the same resources to these businesses. These resources for small businesses have already been implemented in European and Japanese governments.
Cantwell says the legislation will help establish offices in China. It will also help small businesses trade with China.
This act will authorize the Small Business Administration (SBA) to give grants to educate businesses about China’s economy, trading skills, and successful business plans. ♦