Commentary
Rhetoric—whether from corporate executives or government officials—seldom comports with reality. And seldom is the gap as wide as on the subject of foreign investment in China. Beijing says that it is open for business and welcomes foreign investment when, in reality, it has made doing business in China more difficult than ever.
Corporate executives speak of engaging China and then sending their dollars, yen, euros, pounds, won, and whatever elsewhere. The situation is hard on all involved but promises to go hardest on China.
Words today sound sweet and go down easily. Chinese foreign affairs ministry spokesperson Mao Ning announced at a recent news briefing that China “welcome[s] foreign companies to invest in and do business in China, explore Chinese markets, and share in development opportunities.” She added, “China is firmly committed to advancing high-level opening up and fostering a market-oriented, law-based, and internationalized business environment.”…