Chinese Takeovers Trigger Global Backlash Ahead of G-20 Summit
* Scale of worldwide opposition ‘unprecedented,’ economist says
* Investment tension may prove even stickier than trade disputes
Forget about Yankee go home. Now it’s Chinese go home.
From Australia blocking a bid for a power network to the U.K.’s review of a proposed Chinese-funded nuclear plant, opposition to China’s outward push is opening a thornier and potentially more treacherous front in the country’s economic tug-of-war with the rest of the world. And it’s coming as China prepares to host a Sept. 4-5 summit of Group of 20 leaders.
Unlike festering frictions over trade, the new front is in an area -- investment -- where the global rules of engagement are more amorphous and where national security interests are more prominent. That raises the risk of a rapid escalation of tensions that can’t be so easily contained.
Read more ....
WNU Editor: The problem is that China wants to become involved in the economies of other nations .... but prohibits and/or limits foreign ownership of properties and companies within their own borders. This double standard is now being noticed, and I predict that the days of China getting away with this practice .... coupled with the protectionist measures that that they always imposed when it comes to trade .... are coming to an end .... albeit slowly.