Laughable or perhaps completely misinformed comment. Nothing about China is open, try to move your profits out of the US and then try the same in China.
You will quickly realize which economy is more open. The US is still open and welcoming but no longer naïve about China's intentions or repeated breach of US and international laws.
Huawei is a front for the PLA according to the Pentagon [3] and independent think tanks. These reports allege links between Huawei employees [4] and Chinese Ministry of State Security. China and Chinese members can deny these reports in perpetuity - but the world isn't blind. Agreed China rarely ever publicly bans US companies but they often make it impossible for these targeted companies to operate in China - Google, CISCO, Nokia and Ericsson to name a few.
[1]
While Huawei derives nearly a quarter of its revenues from Europe, the Middle East and Africa, and is Europe's biggest mobile infrastructure supplier, Ericsson made just 7% of last year's revenues in China, and for Nokia the figure was only 8%.
[2]
China’s Ministry of Commerce is mulling export controls that would prevent Nokia and Ericsson from sending products it makes in China to other countries, the people said. One person added that this was a worst-case scenario that Beijing would use only if European countries came down hard on Chinese suppliers and banned them from their 5G networks.
[1][2]
China's feeble threat to Ericsson and Nokia | Light Reading
Despite its threats, China is in no position to hurt the Nordic equipment vendors in the way that US and European authorities can damage Huawei.www.lightreading.com
WSJ News Exclusive | China May Retaliate Against Nokia and Ericsson If EU Countries Move to Ban Huawei
Beijing is considering retaliating against the Chinese operations of two major European telecommunication-equipment manufacturers, Nokia and Ericsson, should European Union members follow the lead of the U.S. and U.K. in barring China’s Huawei from 5G networks.www.wsj.com
[3] https://time.com/5859119/huawei-chinese-military-company-list/
[4] https://www.forbes.com/sites/zakdof...lligence-agencies-report-claims/#70bf70564b24
Telecommunications and information technology is a critical national security industry, which is why foreign firms face more prohibition than usual in China. But compare any other industry, foreign firms profit far more and are invested far more in the Chinese market than Chinese conglomerates are in foreign markets.
I agree with you about the movement of capital. I think this will gradually loosen when China becomes bigger and stronger than the West. A lot of the controls in place right now are tied to national security. I agree this is one area where China will face major challenges in trying to balance national security needs with trying to become a major center of finance.
