A dealmaking slowdown is making it harder for international firms to justify their presence in a once vital market.
Police officers patrol past visitors seeking information at a special exhibition of legal services during the China International Fair for Trade in Services (CIFTIS) in Beijing, September 1, 2022. Credit: Andy Wong via AP Photos
For foreign law firms in China, 2023 was supposed to be a comeback year, with the post-Covid reopening generating a rebound in deal making — and a resurgence in fee income.
Things could hardly have turned out more differently. Lawyers say that China’s economic slowdown and chilly political winds have helped make the Chinese market a performance laggard for international law firms’ capital markets practices this year.
Even if China’s economy rebounds soon, some practitioners b
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Not content to run the world’s second most powerful country for a decade, Xi Jinping set about changing everything everywhere all at once. In an excerpt from their new book, Steve Tsang and Olivia Cheung examine how Xi seized personal control of China’s foreign policy apparatuses.
The academic talks about whether China’s experience shows there can be such a thing as ‘good environmental authoritarianism’, and what the U.S. could learn from its approach to green policy.
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