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The rise of ‘state capitalism’ in the field of investment catches the eyes of western countries. The North is currently getting stuck and facing uncertainty while the South is actively participating in global markets and embracing economic globalization. Protectionist stances on trade and immigration result in a more conservative view towards inbound foreign investment in the North. The South sees China becoming an active and important capital exporter. Given that, the USA and EU seek solutions to the changing investment dynamics and issues raised by Chinese state-owned investors in critical infrastructure. National security, reciprocity and competitive neutrality are frequently raised by the USA and EU when dealing with China’s state capitalism. This paper therefore aims to explore the implication of the US and EU measures on Chinese investment and domestic reform by comparing investment policies and treaty practices adopted by these two leading economies. The reasons behind and the convergence and divergence of adopted approaches are discussed. It found that concerns about China’s state capitalism is a clash between two types of development models presented by the North and South. The paper recognizes the legitimacy and necessity of state intervention in foreign investment to protect national security and ensure a level playing field while it also emphases the principles of proportionality and non-discrimination in rule-making. An adaptive version of competitive neutrality and increased transparency are critical for China to respond to the US/EU demands and to further domestic reform.
Wei Yin. A comparison of the US and EU regulatory responses to China’s state capitalism: implication, issue and direction. Asia Europe Journal 2020, 19, 1 -25.
AMA StyleWei Yin. A comparison of the US and EU regulatory responses to China’s state capitalism: implication, issue and direction. Asia Europe Journal. 2020; 19 (1):1-25.
Chicago/Turabian StyleWei Yin. 2020. "A comparison of the US and EU regulatory responses to China’s state capitalism: implication, issue and direction." Asia Europe Journal 19, no. 1: 1-25.
Given the challenges presented by climate change and related environmental pressure, a sustainable, investment-led development model, i.e., aligning investment with social and sustainability objectives, is needed to ensure long-term prosperity and generate sustainable growth. The UN’s Sustainable Development Goals (SDGs) was released to guide nations towards green and sustainable development and address governance deficits. The Belt and Road Initiative (BRI) launched by China, a development strategy involving investment in infrastructure development, intends to enhance regional connectivity, integration, and stimulate economic growth. These two agendas share the notion of ‘sustainable development’ and are growing increasingly relevant. Although various studies have analysed the sustainability of the BRI, the implementation of SDGs and the similarities and complementarities between the two initiatives, few of them touched on the possibility of the BRI to be a green and sustainable investment-led model by aligning the SDGs. This paper, thus, aims to contribute to the ongoing debate on sustainable development and infrastructure investment by exploring the possibilities and challenges of the BRI to be a sustainable, investment-led development model. By comparing these two agendas and seeking the linkages between them, this article recognises the potential of the BRI to play such a role while there are issues and risks of BRI that hinder the achievement of infrastructure development and sustainable investment. The paper recommends that, to exert the synergies from aligning the BRI and SDGs to seize substantial development benefits, it is necessary to enhance the sustainability of BRI projects, provide effective cooperation and communication with stakeholders, and adapt BRI to the national development policies of each partner country. Joint efforts taken by both state and non-state actors are indispensable.
Wei Yin. Integrating Sustainable Development Goals into the Belt and Road Initiative: Would It Be a New Model for Green and Sustainable Investment? Sustainability 2019, 11, 6991 .
AMA StyleWei Yin. Integrating Sustainable Development Goals into the Belt and Road Initiative: Would It Be a New Model for Green and Sustainable Investment? Sustainability. 2019; 11 (24):6991.
Chicago/Turabian StyleWei Yin. 2019. "Integrating Sustainable Development Goals into the Belt and Road Initiative: Would It Be a New Model for Green and Sustainable Investment?" Sustainability 11, no. 24: 6991.
The European Union (EU) and China, as influential economic powers, are engaging in the negotiations of a Comprehensive Agreement on Investment (CAI), which if successful will likely be a high-level standardised investment treaty in a new era. Although the CAI provides China and the EU an opportunity to solve their respective concerns, it presents challenges for both sides. This paper attempts to elaborate the key issues involved in the negotiations, especially from the Chinese perspective. Specifically, this paper addresses two main questions: what are the key issues in China-EU CAI negotiations and how can China address these challenges? What is the implication of the CAI on China’s further domestic reforms? After the analysis of relevant factors, it concludes that although tough issues need to be addressed in the CAI negotiation, a mutual understanding of their respective values and interests and an improved regulatory regime in China are necessary in promoting China-EU investment cooperation. The issue of reciprocity shall not be addressed by unilateral discriminatory measures, but relying on a bilateral approach with mutual understanding, complemented by progress in China’s reforms.
Wei Yin. Challenges, issues in China-EU investment agreement and the implication on China’s domestic reform. Asia Pacific Law Review 2018, 26, 170 -202.
AMA StyleWei Yin. Challenges, issues in China-EU investment agreement and the implication on China’s domestic reform. Asia Pacific Law Review. 2018; 26 (2):170-202.
Chicago/Turabian StyleWei Yin. 2018. "Challenges, issues in China-EU investment agreement and the implication on China’s domestic reform." Asia Pacific Law Review 26, no. 2: 170-202.