Tuesday, May 14, 2019
South China Morning Post: Chinese Vice-Premier Liu losing his title of "special envoy" representing President Xi in the latest round of talks indicated that this round was never intended to reach a compromise, but instead constituted a high-level message that China was not willing to make the concessions demanded by the US.
Frustrated by China's years of broken promises to further open its markets, subsidies to state-owned enterprises, pervasive theft of intellectual property and forced transfer of technology, President Trump is taking a leaf out of China's playbook and treating the economy and industry as a strategic asset that must be defended.
US companies should reconsider their China strategies and take into greater consideration US national security interests, balancing them with the interests of corporate shareholders. Call it "US Inc."
Diversifying global investments in supply chains and manufacturing, expanding export markets beyond China and moving critical manufacturing back to the US, particularly in support of the defence industrial base, are smart strategies that will ultimately serve the interests of their country and shareholders.
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