China on Monday criticised European Union plans to shield key industries from Chinese competition, warning it would take countermeasures if the measures are adopted. The EU’s proposed “Made in Europe”…
The European measures represent even far less than what China has been doing. Non-Chinese companies can’t establish a subsidiary in China, they always need a Chinese partner that would then own the majority of the Chinese joint venture. And that’s just one among many other protectionist rules that illustrate how the Chinese Communist Party shields its domestic supply chains, including the use of forced labour.
That’s a deeply hypocritical, artificially constructed outcry by a Chinese regime that more and more depends on exports amid soft domestic demand. They are nervous.
On the one hand, I agree that China is being hypocritical. On the other hand, all businesses within a country should be owned by people who actually live and spend their lives in that country. It is one of many steps that can be taken to democratize an economy.
The planned measures sound very similar to what China is already doing for years?
The European measures represent even far less than what China has been doing. Non-Chinese companies can’t establish a subsidiary in China, they always need a Chinese partner that would then own the majority of the Chinese joint venture. And that’s just one among many other protectionist rules that illustrate how the Chinese Communist Party shields its domestic supply chains, including the use of forced labour.
That’s a deeply hypocritical, artificially constructed outcry by a Chinese regime that more and more depends on exports amid soft domestic demand. They are nervous.
On the one hand, I agree that China is being hypocritical. On the other hand, all businesses within a country should be owned by people who actually live and spend their lives in that country. It is one of many steps that can be taken to democratize an economy.