Trump: a bit of business, few jobs from China – Paul Gillis

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Paul Gillis

The result of Donald Trump’s visit to China has been underwhelming, especially when some of the published deals were put under scrutiny. Beida accounting professor Paul Gillis looks at the Washington Post and the opening of financial markets where foreign firms could get a majority share.

The Washington Post:

The changes could be good news for U.S. companies, though experts said they need to know more about the rules and the timing of the changes.

“It is a positive step forward,” said Paul Gillis, a professor at Guanghua School of Management in Beijing. “Fifty-one percent [joint ventures] offer control to the foreign investor, although the devil is in the details as to how management and the board are structured.”…

“China likes to throw bones to foreign visitors, so it was expected that Trump would be given some good news,” Gillis said. “I doubt it is significant, however. It certainly won’t create any U.S. jobs.”

More at the Washington Post.

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