looking beyond borders

foreign policy and global economy

Why Foreign Companies Need To Swallow Their Pride And Get Used To Apologizing To China.

Despite 35 years of rhetoric about China being open to foreign business, and explicit promises China made on its accession to the World Trade Organization in 2001, foreign companies in practice have no right to operate in China. China’s policy makers — and no small number of its people — still maintain that it is a privilege for foreign firms to be allowed to access the Chinese market. Moreover, that privilege may be revoked at any time for a range of reasons, some of which are not laid out in law or on contracts.

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