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CFR Backgrounder: The Chinese Communist Party (updated)

November 20, 2014 Comments off

Backgrounder: The Chinese Communist Party
Source: Council on Foreign Relations

The Chinese Communist Party (CCP) is the founding and ruling political party of modern China, boasting more than eighty-six million members. In 2012, the CCP underwent a pivotal once-in-a-decade power transition that saw its fifth generation of leaders set the future agenda for the second-largest economy in the world. While the party has maintained a political monopoly since its founding, the effects of China’s rapid economic growth have triggered increasing social unrest and political destabilization that challenge the country’s rise as a global power. A spate of political scandals has also exposed deep power struggles inside the infamously opaque organization. The changeover has done little to affect immediate party policy and direction, however the implications of new leadership sheds some light on how China plans to position itself on the world stage.

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New Comparative Law Report — Approval of Medical Devices

November 14, 2014 Comments off

Approval of Medical Devices (PDF)
Source: Law Library of Congress

This report describes the approval process for medical devices in the European Union and fifteen countries, and also indicates whether or not an expedited approval procedure is available. Many of the countries reference EU law, including France, Germany, the Netherlands, and Switzerland. Israel more readily approves devices with a CE mark (indicating approval in the EU) or an indication that they are approved by the US Food and Drug Administration (FDA). In many nations, particularly those influenced by the EU, part of the review process is conducted not by the government but by private, independent organizations called “notified bodies.” These organizations are designated by EU Member States.

In most of the countries in the survey, medical devices are categorized based on the risks associated with their use, and the approval process varies by category. For example, in the United Kingdom, manufacturers of low-risk devices may register with the government agency and simply declare that the devices meet the requirements to be approved. Devices classed as higher risk must undergo more detailed review, by a notified body.

On the question of an expedited approval process, Australia, Canada, China, Japan, Spain, and Switzerland permit some sort of rapid review in particular cases, often when a device is required for an individual patient and no substitute is available. Mexico has provided for more rapid approval of devices if they have already been approved in either Canada or the United States. No such procedure exists at present in Brazil, France, Israel, the Russian Federation, or the United Kingdom. The Russian Federation did have a rapid approval system in place prior to August 2014. Germany provides for temporary approval of devices in limited circumstances. South Africa is now considering draft legislation that would include expedited procedures in specified situations.

A pocket guide to doing business in China

November 7, 2014 Comments off

A pocket guide to doing business in China
Source: McKinsey & Company

China, a $10 trillion economy growing at 7 percent annually, is a never-before-seen force reshaping our global economy. Over the past 30 years, the Chinese government has at times opened the door wide for foreign companies to participate in its domestic economic growth. At other times, it has kept the door firmly closed. While some global leaders, such as automotive original-equipment manufacturers, have turned China into their single largest source of profits, others, especially in the service sectors, have been challenged to capture a meaningful share of revenue or profits.

This article summarizes some of the trends shaping the next phase of China’s economic growth, which industries might benefit the most, and what could potentially go wrong. It also lays out what I believe it takes to build a successful, large-scale, and profitable business in China today as a foreign company.

The Risks of China’s Internet Companies on U.S. Stock Exchanges

October 31, 2014 Comments off

The Risks of China’s Internet Companies on U.S. Stock Exchanges
Source: U.S.-China Economic and Security Review Commission

In May 2014, Alibaba, China’s leading e-commerce website, filed for a U.S.-based initial public offering (IPO) in what is expected to be one of the largest in U.S. history. The highly anticipated IPO will be just one in a recent wave of Chinese Internet companies launching IPOs in the United States. The trend has raised some misgivings among U.S. regulators about the corporate structures of these companies. To bypass Chinese government restrictions on foreign investment in the Internet sector, Chinese Internet companies use a complex and highly risky mechanism known as a Variable Interest Entity (VIE). An addendum was added to this paper on September 12, 2014.

Backgrounder: Media Censorship in China

October 30, 2014 Comments off

Backgrounder: Media Censorship in China
Source: Council on Foreign Relations

The Chinese government has long kept tight reins on both traditional and new media to avoid potential subversion of its authority. Its tactics often entail strict media controls using monitoring systems and firewalls, shuttering publications or websites, and jailing dissident journalists, bloggers, and activists. The severity of media censorship grabbed headlines in early January 2013 when Southern Weekly, a liberal-leaning paper based in Guangzhou, staged a week-long confrontation with the government after local propaganda authorities rewrote a front-page pro-reform editorial. Google’s battle with the Chinese government over Internet censorship in China, and the Norwegian Nobel Committee’s awarding of the 2010 Peace Prize to jailed Chinese activist Liu Xiaobo, have also increased international attention to media censorship in the country. At the same time, the country’s burgeoning economy has allowed for greater diversity in China’s media coverage, and experts say the growing Chinese demand for information is testing the regime’s control.

Hong Kong: one country, two systems?

October 23, 2014 Comments off

Hong Kong: one country, two systems?
Source: European Parliamentary Research Service

The on-going heated debate about the introduction of universal suffrage for the election of Hong Kong’s Chief Executive has turned into widespread protests on the territory’s streets. Hopes that the public would be able to nominate candidates were dashed by China’s decision to allow only committee-based nomination of candidates in the 2017 election. The Occupy Central protests, widely known as the Umbrella Revolution, kicked off on 28 September. Agreement to talks, scheduled for 10 October, saw tensions lowered, but after those talks were cancelled by the authorities, organisers called for protesters to return to the streets. With numbers not reaching earlier heights, the authorities appear to have concluded that the protests’ momentum is going.

Keeping the South China Sea in Perspective

October 17, 2014 Comments off

Keeping the South China Sea in Perspective
Source: Brookings Institution

The United States seeks to promote Asia-Pacific economic interdependence and dynamism and to mitigate security tensions in the region. Unfortunately, maritime territorial disputes in the East China Sea and the South China Sea increasingly threaten these dual objectives of U.S.-Asia policy. This policy brief focuses on the South China Sea set of issues.

Complex Rivalries and Claims in the South China Sea

U.S. Principles and Interests

Recommendations for a Diplomatic Strategy

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