> But China blocks American companies from their market, or extracts unfair concessions from them. This is largely untrue. First, American companies have a far

> But China blocks American companies from their market, or extracts unfair concessions from them. This is largely untrue. First, American companies have a far larger market presence in China than vice versa. Second, American companies have made massive returns on investment in China. They're in China because it's profitable for them. There's a view that developing countries should immediately open their markets to complete, 100% unfettered access by all foreign companies. That might be great for foreign companies, but it would be terrible development policy. The host country would risk destroying any domestic industry it has. Developing countries benefit from some level of protectionism. There's nothing unfair about that - advanced companies from developed countries have enough of an advantage that they can still compete. Asking for 100% market opening on day 1 is like asking to eliminate weight classes in boxing in the name of fairness. That would be great for the heavyweights, but not so much for the featherweights.