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China pledges to increase opportunities for foreign companies as it seeks to boost its economy

23 Comments
By KEN MORITSUGU

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But not, I'm sure, to do ANYTHING to address the rampant intellectual property theft in that country.

17 ( +17 / -0 )

But not, I'm sure, to do ANYTHING to address the rampant intellectual property theft in that country.

Business is China is a Faustian bargain. You get to do business in China, but you have to do business in China.

3 ( +7 / -4 )

Didn’t China make the same kind of pledges a short time ago before it scared everyone away?

13 ( +14 / -1 )

BS. The US is knee capping the Chinese economy through tariffs, sanctions and investment bans. One effect of these ill conceived policies is that China needs to cozy up with the Russian economy for access to new markets. Cause and effect.

"But the facts will not support that argument. We are derisking, which is a necessary and fully justifiable policy.”

-11 ( +0 / -11 )

The Chinese economy is dependent on foreign investments. Without those, they don't have hard currency to pay for imported goods. Also, as more foreign companies are stopping new investments inside China, they are only maintaining existing facilities to eek as much profit from them while they can, before the CCP comes knocking to nationalize their company.

Last year, China raided a number of foreign companies doing their jobs to help investors decide what Chinese companies were good partners and investments. They were arrested for treason and all their documents taken by the CCP. Seems telling the truth about Chinese tofu companies isn't allowed. What investor would put any money into China? Earlier this week, Hong Kong stopped taxing property sales. I don't understand how that's possible, since nobody actually owns property except the govt, in China.

Let me know when all the Chinese middle class have recovered all their mortgages for their investment properties, which cost most of them 60% of their savings. Middle-class Chinese are screwed by Xi's poor economic policies, again.

7 ( +9 / -2 )

Burns pushed back at Chinese accusations that the United States is seeking to decouple its economy from China's,

Why deny that? The US economy has boomed ever since the decoupling movement got started, while China's nosedived. Similar to how the US went on the ascent economically right after Japan's bubble popped. It's a zero-sum gain world, folks.

2 ( +5 / -3 )

“We will unwaveringly adhere to a high level of opening-up to the outside world.”

"We will continue to SAY this, but lie about it, as we have done for decades."

law-based international business environment.

There is no law in China: only CCP edicts. The "law" [sic] exists to serve the CCP: it does not benefit the people or international businesses.

Foreign companies are pouring out of China as they don't want their IP stolen or their employees held hostage. Now that these companies have a booming SE Asia and India to work with, China simply isn't needed like it was in the past.

India has just posted 8.4% growth, and is eating China's lunch. (China posted 5.2% growth, but the real figure is certainly much lower, as the CCP simply makes up these figures to serve its interests.)

https://www.bbc.co.uk/news/business-68443347

6 ( +7 / -1 )

Decoupling, derisking, call it what you want but China is not as appealing as it once was. While the China's VP promotes doing business in China to help China's economy recover, China continues to threaten Taiwan, steal intellectual property and detain business people. Added to this is the rise of lower-cost India, with its strong growth and younger population as the go-to destination for investment. There is also the possibility of higher tarrifs on imports from China if Trump gets re-elected. US businesses would put with unfair practices in the past because the gains outweighed the risks. Not any more.

9 ( +9 / -0 )

China pledges to increase opportunities for foreign companies as it seeks to boost its economy

There's an old Chinese saying, "Don't do business in China."

They've stolen so much technology, duplicated many successful foreign company products then came out with their own Chinese versions, blocked companies from continuing business there depending on which way the wind was blowing and ad infinitum.

Don't do it! - Grandmaster Flash

7 ( +8 / -1 )

No one can resist the access to the Chinese market of 1400 million people..

So they have to cooperate with the government, partner with a Chinese company and give up part of their intellectual property to be able to enter China..

Great idea, great plan..

GO CHINA !!..

-10 ( +0 / -10 )

TokyoLivingToday 12:18 pm JST

No one can resist the access to the Chinese market of 1400 million people..

You mean, apart from all those companies and countries that are actively moving out of China?

China isn't even the biggest exporter to the US these days: that is now Mexico. Decoupling is happening, and it's accelerating.

https://www.forbes.com/sites/miltonezrati/2024/02/24/de-coupling-from-china-is-proceeding-there-can-be-no-doubt/

Foreign direct investment in China is at a 30-year low:

https://asia.nikkei.com/Economy/Foreign-direct-investment-in-China-falls-to-30-year-low

And even with the previously China-dependent Taiwan, the share of investment has dropped from 83.3% in 2010, to 11.4% now. That is a stunning reversal, and the Chinese people have Xi and the CCP to "thank" for this.

https://www.taipeitimes.com/News/front/archives/2024/02/19/2003813752

10 ( +10 / -0 )

So many companies have packed up and headed to other countries such as India, Indonesia and the list goes on. One of the biggest pullouts I can think of is Apple they are moving their manufacturing to India, and I don't think they will ever turn back again.

China did not learn from Japan's bubble economy and many Chinese bigwigs bought up homes such as in Canada, the US and other countries and so many now are selling at a loss and losing their shirts in China.

6 ( +6 / -0 )

Never trust a word from the CCP. When they are down & out, they will start asking foreign companies to do business in China with greater opportunies. When they are too strong again, they will start the harassment and bully tactics. Time for big coporations to wake up. Avoid China at all cost.

7 ( +7 / -0 )

It's called an about face. Xi's get tough on foreign businesses and investments have resulted in their flight. This has led to vacant factories and mass unemployment.

Will foreign businesses and investments return, probably not? They have already fled to friendly neighboring countries who have welcomed them with open arms.

2 ( +2 / -0 )

China is about to return to full communist - their plan to buy the way out of their economic collapse is to start buying up all the empty real estate, as rental housing for the people.

This is a total disruption to how China has been managing their economy since Deng Xiopang, and will likely hold off an immediate collapse, but immediately stops the progress China has been making for its people for nearly 50 years.

2 ( +2 / -0 )

But not, I'm sure, to do ANYTHING to address the rampant intellectual property theft in that country.

Case in point:

Chinese company applies to trademark Shohei Ohtani’s name, says they don’t know who he is

https://www.yahoo.com/news/chinese-company-applies-trademark-shohei-194548086.html

This has also happened to Yuzuru Hanyu, Eileen Gu (US) and of course Michael Jordan (US). It took Jordan none years to win his case.

The same company tried to trademark highend brands like Bulgari, Cartier, and Hermes.

4 ( +4 / -0 )

If China is so great, why does Xi have so many close relatives living overseas with permanent residency outside China?

His sister and husband have hidden $300M+ overseas, as shown in the Panama Papers. She may be Chinese inside China, but everywhere else, she uses a Canadian passport.

China has huge issues. I don't want the regular Chinese to suffer like they are going to, but that looks like the only way to de-thrown the nationalists/thugs/war-mongers, have more democratic reforms, and better futures for all Chinese.

China needs to succeed. The world needs them to become a happy, fully democratic, nation that gets along with neighbors, doesn't need much military and learns to make sewers that actually have more than just covers on the streets with a 0.5m hole under the cover.

2 ( +2 / -0 )

But not, I'm sure, to do ANYTHING to address the rampant intellectual property theft in that country.

Case in point:

Chinese company applies to trademark Shohei Ohtani’s name, says they don’t know who he is

https://www.yahoo.com/news/chinese-company-applies-trademark-shohei-194548086.html

This has also happened to Yuzuru Hanyu, Eileen Gu (US) and of course Michael Jordan (US). It took Jordan none years to win his case.

The same company tried to trademark highend brands like Bulgari, Cartier, and Hermes.

3 ( +3 / -0 )

So they can STEAL everything if / when they do

1 ( +1 / -0 )

I hope no one is confused by the fact that the most important thing to a company, China will not provide, and that is stability. Things may be great today, but no one knows about tomorrow.

1 ( +1 / -0 )

He cited manufacturing overcapacity in China, which has raised fears in the U.S. and Europe that Chinese exports will flood their markets with exports

Lower prices.

0 ( +0 / -0 )

I hope no one is confused by the fact that the most important thing to a company, China will not provide, and that is stability. Things may be great today, but no one knows about tomorrow.

Every company that sets up locations in China knew everything they did there would be stolen. They'd hoped to delay that as long as possible, but any Chinese contracts included sufficient profit in the first few deliveries. Companies aren't dumb. The way they see it, if China is going to steal, then when they steal their stuff, at least they can compete outside China and perhaps provide services and replacement parts.

Everyone knows that Chinese companies, aided by the Chinese Govt, steal everything they can. That leak last week of a hacking crew. I-Soon, based in China, with contracts for many Chinese multi-national companies AND the CCP govt, clearly shows this to be true. https://www.theguardian.com/technology/2024/feb/23/huge-cybersecurity-leak-lifts-lid-on-world-of-chinas-hackers-for-hire There's 190+MB of data showing their capabilities, who they've already hacked and whether they have persistent access to the specific attackee.

The CCP had them target pro-democracy groups in Hong Kong and the UK Foreign Office. I-Soon claims to be able to hack any account on X too, BTW. Nice job Musk.

“The Chinese state is basically hoovering up as much data as they can,” said Alan Woodward, a computer security expert at the University of Surrey. “They just want as much information as they can in case it proves useful.”

The leak also shows that the way this all works is that the hacking company tries to break into everyone, then find a buyer for the data be that buyer a Chinese company or the CCP Govt or provincial govts. They are seldom pre-paid to perform hacks. In that light, the denials from the Chinese Govt may be true. I'd have to look at the exact statements to see what they actually say. It is one thing to sponsor attacks BEFORE they happen. It is another, in the Chinese mind, to pay for the information AFTER is has already been stolen.

1 ( +1 / -0 )

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