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  • China On Your Doorstep

    If there’s a Chinese business person in your neighborhood talking about buying a local company or plot of land, you’re not alone. Excluding bond purchases, Chinese investment in the U.S. set a record last year at over $14 billion, rising more than 50 percent from 2012. Whether more is on … More

    The U.S. Gets It Right on Smithfield

    The Committee on Foreign Investment in the United States (CFIUS) is charged with screening foreign investments to ensure they pose no risk to national security. CFIUS receives a great deal of criticism, some of it deserved. But the decision last week to approve Chinese firm Shuanghui’s $4.7 billion acquisition of … More

    Emerging Markets Have Caught a “Fed Cold”

    Stock prices and exchange rates in emerging markets such as India and Indonesia are taking a beating this week. The immediate cause is that the Federal Reserve just might reduce the gigantic amount of stimulus it’s been applying to the world economy. What’s really on display is the failure of … More

    Apple vs. Samsung: Why Is the Obama Administration Involved?

    Apple and Samsung have been fighting over cell phone patents for a while. Samsung won a round in June when the U.S. International Trade Commission (ITC) ruled in its favor on certain patents, blocking sale of some older Apple products. The Obama Administration last week overturned the ruling. The Administration … More

    China Makes Life More Difficult for Foreign Companies

    It is widely hoped—in the U.S., China, and elsewhere—that the new Chinese government headed by Xi Jinping and Li Keqiang will restart economic reform. While the answer is still unclear, circumstantial evidence is piling up, and it isn’t good. Beijing is treating foreign companies very poorly, contributing to a poor … More

    China GDP Claims Don’t Matter

    China’s State Statistical Bureau (SSB) announced second-quarter real gross domestic product (GDP) growth at 7.5 percent and first-half real GDP at 7.6 percent. High or low, whether it meets the official target or not, no one should care. GDP is a poor indicator of economic health—anywhere. It is especially poor … More

    A Band-Aid for Derivatives Trading

    American regulators yesterday agreed, both internally and with the European Union, on how to deal with the trading of financial derivatives beyond U.S. shores. The EU and U.S. essentially decided to treat each other’s rules as “close enough.” While the decision has some value, it continues to miss the point. … More

    An Investment Treaty with China: Don’t Hold Your Breath

    The U.S. and China yesterday announced that they are restarting talks on a bilateral investment treaty (BIT). Given China’s track record, it’s not clear that a BIT is a useful step now or in the near future. It may be a good thing, then, that one is not likely to … More

    China’s Financial Quandary: Get Used to It

    The finance media are discovering that China has trapped itself with bad monetary policy, joining a long list of countries in this situation. The media should next realize that China faces not a crisis but a long-term problem of untangling the effects of bad decisions made over several years. The … More

    Will the Currency Zombie Eat the Trans-Pacific Partnership?

    Currency manipulation is the issue that never dies. No matter how many times the link between exchange rates and American jobs is shown to be tenuous, the matter rises again like a zombie. In this case, it is Japan that has brought exchange rates back into the spotlight, as the … More