“Recompense injury with justice and recompense kindness with kindness.” In trade as in life, that’s good advice. The US and other countries should place restrictions on Chinese companies to match those China imposes on foreigners. Despite promises to continue “opening up”, China’s government still bars or restricts foreign companies from engaging in many basic business activities. The Bank of China bought itself a ritzy new office in Manhattan, while in China the expansion of foreign banks and insurance companies has been constrained by regulators. With access to much-needed foreign technologies and markets curtailed, China would quickly face pressure to reform.

Source: Mint August 11, 2016 18:56 UTC