China's congress is set to pass a massive revamp of its Foreign Investment Law today, a revision that Chinese officials say will put foreign companies that invest in China on an equal footing with local firms.
It aims to streamline the approvals process for potential investors, and will replace three existing laws, some of which date back to the 1970s. However, foreign investors will be subject to what has been referred to as a"negative list" of 48 industry sectors — such as energy and education — which foreign companies will be restricted from participating in.that Beijing perceives to threaten national security.
A nations physical security must always take precedence over free trade. Banning a Chinese company from our communications network is a no brainer. It should not even be up for discussion.
Their foot is much bigger so if we all indulge in protectionist own foot shooting they will feel a lot more pain for their stupidity. Meanwhile we have many other friends in the international community that we can and should focus on mutually beneficial interactions with.