Is China Safe for Business?
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The brand for 3M on a display over the buying and selling flooring of the New York Stock Trade, Oct. 24, 2017.
Picture:
Richard Drew/Involved Push
In “A Authorized Settlement Displays the Pitfalls of Performing Business enterprise in China” (op-ed, March 14),
Jillian Kay Melchior
is ideal to anxiety the relevance of the rule of legislation. But these hazards increase beyond the absence of a trusted lawful method. As we have witnessed with the Ukraine invasion, U.S. companies are having massive losses following withdrawing from their operations in Russia. So what does the potential keep for American organization should really China invade Taiwan? In 2020 the U.S. did about $615 billion in business with China.
To check out that issue, I have submitted shareholder proposals this 12 months at 3M and Verizon. What would come about to shareholder benefit if 3M shed its China functions? What would take place at Verizon if the Chinese provide of smartphones all of a sudden dried up?
When my 3M proposal will certainly be voted on at this year’s once-a-year conference, Verizon is inquiring the Securities and Trade Fee for authorization to block my proposal. Both proposals have been filed extensive before Russia invaded Ukraine.
The Ukraine invasion has been an object lesson in the hazards of doing enterprise with a rogue nation. It is not far too late to study and get ready for possibly a lot far more dire situations.
Steve Milloy
Potomac, Md.
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