Why China’s one-way door on investment is not working

OPINION: Benefits are supposed to flow both ways when countries open the door to foreign investment. But that does not happen when China’s state giants are involved.

Why China’s one-way door on investment is not working

Benefits are supposed to flow both ways when countries open the door to foreign investment. But that does not happen when China’s state giants are involved.Adrian Blundell-WignallColumnistOct 9, 2019 — 6.59pmSaveShare

China has just had a birthday party for 70 years of Communist rule. In that time, millions of people have been lifted out of poverty. Credit is due. China itself, of course, is much older. It is one of the world’s oldest civilisations and goes back thousands of years. It missed the industrial revolution in the West and is now bent on catching up to restore its place at the world’s centre.

It had been hoped that by its 70th birthday, the Communist Party would be striving for greater balance with other countries – moving towards a more open society. Recently it has moved in the opposite direction. This does not appear to reflect the wisdom for which the Middle Kingdom’s ancestors are famous.

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