What really keeps CHINA up at
night, however, is a potential co-ordinated assault by the Trump
administration, EU and Japan on their unique model of Chinese “state
capitalism” that has been integral to the country’s economic success
over the past 40 years.
In recent months the EU and Japan have joined forces with the US in WTO
complaints against “forced technology transfers” in China through
mandatory joint venture structures with local partners. “No country
should require or pressure technology transfer from foreign companies to
domestic companies through the use of joint venture requirements,
foreign equity limitations, administrative review and licensing
processes,” Mr Lighthizer, Ms Malmstrom and Hiroshige Seko, Japan’s
minster for economy, trade and industry, said in a joint statement in
May.
After a period when Mr Trump picked trade fights with any number of
countries, Beijing worries that he has stumbled on to a more effective
trade strategy that involves isolating China.
“These sorts of moves make the Chinese very nervous,” says Eswar
Prasad, a former head of the IMF’s China division who now teaches at
Cornell University.
https://www.ft.com/content/ee361e2e-b283-11e8-8d14-6f049d06439c
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