No, apparently YOU are incorrect. CFIUS never ruled against the Chinese interests, but the notion that they wanted to look at the deal was used as an excuse for withdrawing from the deal. CFIUS has no authorization to grant or deny anything. They are an advisory body. You are misreading the applicable regulations.
Of course there is no automatic exclusion, but by noting that, you ignore the other side of the issue, which is that in the U.S. at least, you can buy or sell whatever you want, as long as you don't run afoul of antitrust, environmental, or labor regulations. These apply to all firms, not just Chinese firms looking to acquire U.S. assets. Whereas regulators in China do exert considerable influence over foreign, and especially U.S. companies trying to do business there. The entire issue between Chinese regulators and Qualcomm was tied to the interests of Chinese businesses, especially state owned businesses, which had unusually close connections to the leadership. I could go on and mention numerous other U.S businesses that are given a rough time in China, as opposed to Chinese businesses getting mistreated in the U.S. for activities other than dumping tires and steel in the U.S. at below cost.
You can defend China all you want, but don't overlook a long history of partiality to Chinese interests.
Art |
