2018: Chinese globalisation in full flight

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  • Dream on if you think the China market will open up any time soon. Interesting though to see how PRC firms handle the rule that PRC lawyers can't practice PRC law if they're members of a foreign law firm. Still trying to figure out how this works for King & Wood Mallesons.

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  • Why is there such strong opinion that the Chinese market will liberalise in economic and legal terms? Do we have any indication that China will need to liberalise it's economy in 10 years time?

    Surely there would have to be some demonstrable benefit to the Chinese economy?

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  • Oh dear I think some people are going to be disappointed.

    The only reason why the Chinese would liberalise their legal services market would be if it were used as a bargaining chip in a trade agreement.

    But why would they bother? They already have a massive trade surplus and will soon be the largest economy in the world by any and every measure (they already are by the most telling measures, such as number of cars bought and produced).

    The Chinese are well aware that law firms by necessity have access to all manner of sensitive information. They do not want law firms from countries like the US - which is not a "friendly" country - having access to information about the operations of Chinese companies inside China except where unavoidable. They also much prefer dealing with Chinese whenever possible.

    Look at Japan. Chinese culture is much closer to Japan than to the US.

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