Law, Gov't & Politics / U.S. Government Resources

Two-faced giant

Two-faced giant
Beijing - China - Fundamental Solution - Hyundai - Protectionism - Seoul - South Korea - Switzerland - World Trade Organization - WTO
September 19
13:232017

"Please come to China, the guardian of free trade, and invest in our country," Xi said.

Last week, Lotte Mart decided to withdraw from China, as 87 of its 112 stores had their business suspended.

Hyundai-Kia Motors' sales in the world's No. 2 economy have halved, with other distribution and cosmetics companies also beginning to leave China.

The propaganda machine set its face against the deficits inflicting the Korean companies amid China's economic retaliation against the deployment here of a U.S. anti-missile battery, which China thinks can compromise its security.

That said, the government staying away from WTO might prove to be a wise, albeit galling, move, considering the nation's heavy economic dependence on China.

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