The normally conciliatory American Chamber of Commerce in China suggested last fall that China is using antitrust to zap foreign firms. It looked prescient in February, when China fined Qualcomm Inc. nearly $1 billion for alleged abuse of market position, and forced costly changes to its license model. Trade wars are old news, but this is something different. Are foreign direct investors now being caught in the cross fire between U.S. and Chinese exporters?
William Perry of Dorsey & Whitney says they are—and the Americans have it coming, because the U.S. has long used trade law as an instrument of protectionism against China. “The U.S. has taught China how to be arbitrary and capricious,” says Perry, who represents Chinese exporters in U.S. trade forums and writes a hot-headed but well-reasoned blog called ChinaTradeWar.com. (The blog also features photos that Perry has snapped of Chinese factories that he’s helped to keep open, ranging from a furniture plant in Shenzhen to foundries in Guizhou and Sichuan.) No one says China is blameless, but Perry convincingly puts his finger on a set of contradictions in U.S. trade law that defy economic logic, internal logic and global trade norms.
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