In the Hutong
Dreaming of a Six-Month Weekend
U.S.-China Media Brief
There has been of late no shortage of hand-wringing abuout the changing business climate in China, and some of that angst has targeted the matter of how and where the authorities are allowing foreign companies to invest.
The investment climate is changing, as we should expect as China’s economy and it’s relative position in the world evolves. It also means, as some commentators are apt to forget, that America’s door to Chinese FDI is not as open as we would like to think.
Steve Dickinson sums up the situation with dispassionate equanimity:
While potential investors may claim that China’s inward FDI policies are unfair, Steve Dickinson, an international lawyer working in China, argues that these are simply China’s laws and policies, which it has always been very clear on. It is just that these laws do not “fit with [the complainers’] idea of how China should be.”
He’s right, like it or not.
If that is not good enough, then the issue of FDI needs to be raised to the level of a global organization that can do for transnational investment what the WTO and its predecessor organizations did for trade.
But then be prepared to accept a few uncomfortable investments in your own country.