TPP Delivers Only Glancing Blow To State-Owned Enterprises

Law360, New York (November 17, 2015, 8:36 PM EST) -- The Trans-Pacific Partnership breaks new ground in aiming to level the playing field between state-owned enterprises and private businesses, but experts say a slew of escape hatches for sovereign wealth funds and other key market players may blunt the practical effectiveness of the new rules.

Broadly speaking, the TPP text released earlier this month calls for SOEs to buy and sell on the basis of commercial considerations in areas where they are in direct competition with private companies, which has been a central concern of the business community given the continual rise of the Asia-Pacific region, where state-owned titans often dominate...

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