Thursday, April 7, 2016

It’s Time for a Moratorium on Chinese Investment - By Robert Caskey

Just look at China’s fast and furious acquisition of American companies, an alarming development that has been met with deafening silence from the White House. While Chinese companies face little obstacles in snapping up prized American assets, our own companies are hampered (by overburdening regulations, among other obstacles) from securing a more active presence on China’s turf…..

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By the State Department’s own admission, American companies face an overtly hostile and discriminatory environment in China. Investors need government approval for projects, foreigners are barred from staffing key managerial positions, and many sectors are prohibited by Beijing from benefitting from foreign investment. At the same time, the Central Committee effectively distorts competition by doling out “better tax incentives and financing opportunities” to Chinese companies.
Succeeding on the Chinese market is therefore tremendously difficult for U.S. companies. On the flipside, Chinese investors face almost no barriers on doing business on American soil, a fact that is currently helping Beijing prop up its ailing economy and advance its global influence. What should be obvious, even to the Obama administration and certainly to its successor, is that these plays are just another expression of China’s unquenchable thirst for expansion. These strategies may seem new to targets in the West, but not to a Chinese government accustomed to deploying the same trade and financial weapons across the African continent and Asia…..

Meanwhile, America keeps building China’s world-class future at its own expense. The pleas to put an end to unchallenged Chinese economic practices that disadvantage Americans – the outright theft of American innovation, the unfair currency manipulation, the alignment with unsavory world leaders abroad and the indifference to the daily $1 billion trade deficit at home – need to be acted on, and fast.

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