USA: US ENERGY SECRETARY TO LEAD BUSINESS DELEGATION TO CHINA

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• published: 21 Jul 2015
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English/Nat US and Chinese officials are still threatening a trade war over piracy of intellectual property. But that isn't stopping the U-S Energy Secretary from leading a delegation of business leaders on a tour of Asia that includes a stop for meetings in Beijing. Hazel O'Leary says despite ongoing trade tensions between the United States and China, the trip must go on as scheduled. When her trip was still in the planning stages over a year ago, no one could have predicted that U-S Energy Secretary Hazel O'Leary's journey to Asia would occur at a time of such tensions with China. Talking to the press , O'Leary says she believes the current trade difficulties are temporary, and that they should not disrupt relations between the U-S and China. SOUNDBITE: "I can't think of a country where there are not some issues regarding intellectual property. One simply pushes ahead, recognizing again we have to develop venture partners, in the United States and China as an example, and permits that piece to work itself out." SUPER CAPTION: Hazel O'Leary United States Secretary of Energy O'Leary can't be faulted for trying to put a positive spin on what could be a difficult set of meetings. She will be joined on her trip by various American energy interests in attempting to break into the Chinese market. It's market that could be very lucrative. According to Department of Energy projections, China will account for almost one-third of the world's energy capital investment in the next fifteen years. Because of that, the Secretary of Energy knows that canceling this trip would not only be bad for U-S-Chinese relations, but also bad for business. SOUNDBITE: I've already indicated that this is a trip that has been in discussion for two years. I believe to cancel at this time would send a wrong signal with respect to both nations to develop and hold an enduring relationship without regard to the matters regarding international property rights." SUPER CAPTION: Hazel O'Leary The unstable political situation in China, with old guard leadership in transition, is also a concern. O'Leary says this period of instability is actually a time of opportunity. SOUNDBITE: "I can think of no better time to be on the ground. Chaos provides opportunity. And this is not to say that there is chaos in China. But, when, if not in a period of transition? When, if not in a period of stability? When? The answer is always." SUPER CAPTION: Hazel O'Leary Despite the difficulties and uncertainties in U-S/China relations, Hazel O'Leary and the contingent of American energy executives still expect to sign several deals. It may be just the dose of cooperation needed to break stalemated talks on other fronts. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/eb0583b03ab4c570555bea97a10ce49c Find out more about AP Archive: http://www.aparchive.com/HowWeWork