Ex-Commerce Chief Sees Slowdown In China's Market Reforms
Law360, New York (January 29, 2016, 7:29 PM EST) -- Though the Chinese government has made sincere efforts to open its market to foreign investment and improve intellectual property protection, the country's recent economic turmoil will likely prolong Beijing's effort, former Commerce Secretary Gary Locke told Law360 on Friday.
China's plan to align its commercial environment with market-based principles was always going to be a heavy lift, Locke said, and the turbulence that has rocked the nation's economy — sparked by last summer's crash that saw stock prices plunge by 40 percent in less than three months — will only add to that difficulty.
"[China] can't really afford or stomach too much upheaval,"...
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