Beijing has announced new measures to support private companies. Its recent track record invites skepticism.
There’s usually a serious message when the Central Committee of the Chinese Communist Party (CCP) and the State Council jointly publish a document, as they did just over two weeks ago. Dedicated to the development and expansion of China’s private economy, this particular document’s release came hard on the heels of data showing that the much hoped for economic recovery in China this year had stalled, or become 'tortuous' as the Politburo later said.
The members of the P
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Chinese companies have decided that the best place to make money right now is outside of China. The phenomenon known as chu hai (出海), which translates to “go global,” has taken hold, marking a kind of second 'go out' initiative. This time, however, Chinese companies are being met with scrutiny and suspicion.
The former Commerce Secretary and ambassador to China talks about how his background shaped his approach to dealing with Beijing, the pivot to Asia and negotiating Chen Guangcheng's release.
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