IP Factsheet: Macao

Total Page:16

File Type:pdf, Size:1020Kb

IP Factsheet: Macao FACTSHEET 1. THE FACTS: Business in Macao for EU Companies • Size of Market • Key INDUSTRY SECTORS 2. IPR in Macao for SMEs: BACKGROUND • Intellectual Property Rights for SMEs: Why is this RELEVANT to you? • How does Macao’s IP legal framework compare to INTERNATIONAL STANDARDS? 3. IP Rights in Macao: THE BASICS A. Copyright B. Patents C. Trade Marks D. Designs E. Trade Secrets 4. Using CUSTOMS to block counterfeits 5. Enforcing your IP • Civil Litigation • Criminal Prosecution 6. RELATED LINKS and Additional Information IP Factsheet: Macao For free, confidential, business-focused IP An initiative advice within three working days E-mail: of the [email protected] 2 IP Factsheet: Macao THE FACTS: Business in Macao for EU Companies 1. (Source: European Union Office to Hong Kong and Macao) 963 111 852 SIZE of Market : EU exports to Macao: EUR 852 million EU imports from Macao: EUR 111 million Total trade in goods: EUR 963 billion • Macao is the EU’s 130th largest goods trading partner. • The EU is Macao’s 4th largest trading partner, after Hong Kong, Mainland China and the United States. • The business opportunities in the gambling and tourism industry are central to trade relations between EU and Macao. • Macao is a growing market for European luxury goods. • Procurement in the transportation, energy and construction sectors can potentially offer business opportunities to EU SMEs, since Macao is engaged in an increasing number of infrastructure projects. Key INDUSTRY SECTORS: • EU exports to Macao are dominated by high-end leather goods, clothing, watches and jewellery, food and beverages, and automobiles. • Macao’s key export items to the EU include clothing and textiles, toys, footwear electronics, machinery and components. 3 IP TIPS and WATCH-OUTS in Macao 2. IPR in Macao for SMEs: BACKGROUND ● Macao is a Special Administrative Intellectual Property Rights for SMEs: Why is this RELEVANT to you? Region of the People’s Republic of China. It enjoys a high degree Intellectual Property (IP), as intangible assets, are a key factor in the of autonomy, including its own competitiveness of your business in the global economy. IP is a primary method Court of Final Appeal, and it has a for securing a return on investment in innovation and is particularly relevant separate IP system. to Small and Medium-sized Enterprises (SMEs), as they internationalise their business to areas such as Macao. Although SMEs often have limited time and ● Registering your patents or trade resources, it is important to be aware of how IP can be valuable to your business. marks in China doesn’t give you Not only a way to help you protect your innovations from competitors, IP assets protection in Macao, and vice-versa. can also be an important source of cash-flow for SMEs through licensing deals or sale of IP rights, as well as a significant pull-factor when attracting investors. ● It is not possible to apply for the registration of a patent or a Intellectual Property Rights (IPR) infringement is one of the most common trade mark in Macao through the concerns for businesses when dealing with countries across Asia, and its impact existing channels for international on your company could be substantial. It can lead to loss of business, revenue, registration – you must file your reputation and competitive advantage, which affects SMEs both abroad and in application locally. their core domestic markets, and the inadequate protection of inventions and creations can jeopardise prospects for maintaining a competitive advantage. ● Nationals of countries that are members to the WTO, to the How does Macao’s IP legal framework compare to INTERNATIONAL Berne Convention or to the Paris STANDARDS? Convention are accorded the same protection as Macao residents. Macao law protects the various forms of Intellectual Property and complies with the standards set in the main international conventions. Macao was a ● The appointment of a local founding member of the World Trade Organisation (WTO) and, besides the attorney is mandatory for Trade-Related aspects of Intellectual Property Rights (TRIPS) Agreement, registration applicants that are abides by the following treaties: Berne Convention for Protection of Literary and not based in Macao. Artistic Works, Paris Convention for the Protection of Industrial Property, World Intellectual Property Organisation (WIPO) Copyright Treaty, WIPO Performances ● More information on Intellectual and Phonograms Treaty, Universal Copyright Convention and Nice Agreement Property in Macao, as well on the International Classification of Products and Services. as downloadable forms, are available in English, Portuguese As a Special Administrative Region of the People’s Republic of China, and Chinese at the Intellectual Macao has a high degree of autonomy and will retain its own legal Property Department of Macao system until 2047. Economic Bureau website: https:// www.economia.gov.mo/en_US/ web/public/pg_ip?_refresh=true SMEs are businesses which have fewer than 250 employees and turnover of less than EUR 50 million or balance sheet total of less than EUR 43 million. SMEs represent 99% of all enterprises in the EU, and account for about 70% of jobs. Their flexibility and growth potential is seen as a major motor of future innovation and job creation, which is pivotal for the prosperity and economic competitiveness of Europe as a whole. 4 IP Factsheet: Macao 3. IP Rights in MACAO: THE BASICS A. Copyrights How LONG does legal protection in last? WHAT are Copyrights? As a general rule, copyrights last the lifetime of the creator plus Copyrights are rights that guarantee the owner exclusive uses 50 years. A few main exceptions should be taken into account of literary and artistic works, sound and video recordings, radio however: and TV broadcasts, artistic performances and public spectacles. Nature of work Duration of Copyright Audio-visual works (for example, Literary and artistic works are understood very broadly and movies) as well as copyrights 50 years after publication of potentially include any creative texts (including computer acquired by legal persons on the work software), images (photos, paintings, drawings, etc.), shapes literary or artistic works (for example, sculptures), sounds (especially musical works) and Applied arts works 25 years after the making of compilations (for example, databases). (for example, designs) the work 50 years after the first Collective works disclosure or publication Use of a literary or artistic work is also a very broad legal concept Artistic performances 25 years after the performance that includes not only copying but also any form of public (for example, a piano recital) is recorded in audio or video exploitation of the work (translating, broadcasting, leasing to 50 years after the publication of the public, exhibiting, etc.). Industrial designs and designer works Sound and video recordings the recording or, in case there can also be protected by copyright. is no publication, 50 years after the recording is made Radio and TV broadcasts 20 years after the broadcast Copyrights in Macao: What you need to know All the above expiry terms are calculated from the 1st of January Copyrights in Macao are granted automatically by law to the of the year that follows the relevant event. creators of literary and artistic works, performers, broadcasters, producers of sound or video recordings and producers of HOW do I register? spectacles, irrespective of any formality. There is no registration. Literary and artistic works are In case original work is created under an employment contract or in automatically protected by law once they are created and the course of fulfilling the official duties, the ownership of economic expressed in any form (for example, publication of a text, rights must be decided according to the agreement in advance. exhibition of an image, broadcast of a movie, live performance In principle, fixation of the literary or artistic work in a material of a song, etc). Radio and TV broadcasts are protected once form (paper, canvas, stone, film, etc.) is not required, however, they start. Sound and video recordings are protected once the for copyright to subsist and be protected by the relevant laws, recording is made. Artistic performances are protected once the the original work shall be reduced into a material and tangible performance happens or is recorded. form of expression. 5 Copyrights TIPS and B. Patents WATCH-OUTS in Macao WHAT are Patents? Macao follows the continental European legal tradition of Droit d’Auteur (author’s Patents are an exclusive right granted by a government to an inventor right), which stresses the protection of to manufacture, use, or sell an invention for a certain number of years, intellectual creators. therefore patents are temporary monopolies granted to inventors for the economic exploitation (producing, selling, importing, etc.) of technological The holders of copyrights on literary innovations. Macao grants two different categories of patents: inventions and artistic works are, in principle, the and utility models. respective authors (for example, the intellectual creators). However legal Patents in Macao: What you need to know persons (for example, companies) are deemed to be the authors of the a) Invention Patents works created under their direction and An invention is a technical solution to a problem. As a general principle an made public under their name.It is not invention patent can be granted in Macao for a product or for a process of possible to apply for the registration doing things in any field of technology (chemistry, electronics, mechanics, of a patent or a trade mark in Macao etc.). Exceptionally, the law excludes some technological innovations from through the existing channels for patentability: for example, scientific theories, mathematical formulas, rules international registration – you must of games, surgical and therapeutic methods, human cloning processes, file your application locally. plant varieties and animal breeds cannot be patented. A computer programme cannot itself be patented, though this does not exclude the Literary and artistic works made patentability of other inventions that make use of the software.
Recommended publications
  • China's Global Media Footprint
    February 2021 SHARP POWER AND DEMOCRATIC RESILIENCE SERIES China’s Global Media Footprint Democratic Responses to Expanding Authoritarian Influence by Sarah Cook ABOUT THE SHARP POWER AND DEMOCRATIC RESILIENCE SERIES As globalization deepens integration between democracies and autocracies, the compromising effects of sharp power—which impairs free expression, neutralizes independent institutions, and distorts the political environment—have grown apparent across crucial sectors of open societies. The Sharp Power and Democratic Resilience series is an effort to systematically analyze the ways in which leading authoritarian regimes seek to manipulate the political landscape and censor independent expression within democratic settings, and to highlight potential civil society responses. This initiative examines emerging issues in four crucial arenas relating to the integrity and vibrancy of democratic systems: • Challenges to free expression and the integrity of the media and information space • Threats to intellectual inquiry • Contestation over the principles that govern technology • Leverage of state-driven capital for political and often corrosive purposes The present era of authoritarian resurgence is taking place during a protracted global democratic downturn that has degraded the confidence of democracies. The leading authoritarians are ABOUT THE AUTHOR challenging democracy at the level of ideas, principles, and Sarah Cook is research director for China, Hong Kong, and standards, but only one side seems to be seriously competing Taiwan at Freedom House. She directs the China Media in the contest. Bulletin, a monthly digest in English and Chinese providing news and analysis on media freedom developments related Global interdependence has presented complications distinct to China. Cook is the author of several Asian country from those of the Cold War era, which did not afford authoritarian reports for Freedom House’s annual publications, as regimes so many opportunities for action within democracies.
    [Show full text]
  • Introduction Historical Context
    INTRODUCTION China-Africa ties have expanded beyond trade and investment in extractive industries to engagement in telecommunications, infrastructure, manufacturing, finance, media, agriculture and peace and security issues. HISTORICAL CONTEXT While not as well documented as Africa’s links with Europe, China-Africa relations date back to the Ming Dynasty (1368-1644) when a series of expeditions reached East Africa under the command of Admiral Zheng He, at roughly the same time as the Portuguese were exploring Africa’s Atlantic coast. However, formal political relations were only forged during the early years of the founding of the People’s Republic of China (1949), which intersected with the first wave of African independence. The Five Principles of Peaceful Coexistence were originally established in 1954 by India’s prime minister, Jawaharlal Nehru, and the Chinese premier, Zhou Enlai. These principles rose to popularity during the 1955 Bandung Conference – which paved the way for the founding of the Non-Aligned Movement – and have become an important basis for China’s foreign policy and its relations with Africa and Asia. China’s support for Africa’s liberation also played an influential role in shaping the outcomes of newly independent states. 2015 is also 60 years since the 1955 Bandung Asian-African conference, a turning point of world history when for the first time representatives of the former colonised nations united and proposed alternatives to a world order dominated by superpowers. - Remarks by African Union Commission Chairperson, Nkosazana Dlamini-Zuma, 30 January 2015. …The relationship between ourselves and China is founded, as the Prime Minister reminded us recently, on four basic principles: treating each other sincerely and equally; consolidating solidarity and mutual trust; jointly pursuing inclusive development; and promoting inventive practical cooperation between our countries.
    [Show full text]
  • Religion in China BKGA 85 Religion Inchina and Bernhard Scheid Edited by Max Deeg Major Concepts and Minority Positions MAX DEEG, BERNHARD SCHEID (EDS.)
    Religions of foreign origin have shaped Chinese cultural history much stronger than generally assumed and continue to have impact on Chinese society in varying regional degrees. The essays collected in the present volume put a special emphasis on these “foreign” and less familiar aspects of Chinese religion. Apart from an introductory article on Daoism (the BKGA 85 BKGA Religion in China proto­typical autochthonous religion of China), the volume reflects China’s encounter with religions of the so-called Western Regions, starting from the adoption of Indian Buddhism to early settlements of religious minorities from the Near East (Islam, Christianity, and Judaism) and the early modern debates between Confucians and Christian missionaries. Contemporary Major Concepts and religious minorities, their specific social problems, and their regional diversities are discussed in the cases of Abrahamitic traditions in China. The volume therefore contributes to our understanding of most recent and Minority Positions potentially violent religio-political phenomena such as, for instance, Islamist movements in the People’s Republic of China. Religion in China Religion ∙ Max DEEG is Professor of Buddhist Studies at the University of Cardiff. His research interests include in particular Buddhist narratives and their roles for the construction of identity in premodern Buddhist communities. Bernhard SCHEID is a senior research fellow at the Austrian Academy of Sciences. His research focuses on the history of Japanese religions and the interaction of Buddhism with local religions, in particular with Japanese Shintō. Max Deeg, Bernhard Scheid (eds.) Deeg, Max Bernhard ISBN 978-3-7001-7759-3 Edited by Max Deeg and Bernhard Scheid Printed and bound in the EU SBph 862 MAX DEEG, BERNHARD SCHEID (EDS.) RELIGION IN CHINA: MAJOR CONCEPTS AND MINORITY POSITIONS ÖSTERREICHISCHE AKADEMIE DER WISSENSCHAFTEN PHILOSOPHISCH-HISTORISCHE KLASSE SITZUNGSBERICHTE, 862.
    [Show full text]
  • Turkey and China
    TURKEY AND CHINA MEHMET ÖGÜTÇÜ I. INTRODUCTION The world is waking up to the fact that China is becoming a new economic superpower. In just one and a half decades, China has transformed itself from a dormant, introspective giant into a dynamic powerhouse of major significance to the world economy. It currently provides the only major, rapidly growing economy in an otherwise recession-hit world. Western exporters, multinationals and emerging market investors are looking to China almost as if it were a new El Dorado. The strategic centre of gravity is also shifting towards China and other dynamic Asia-Pacific nations, bringing about fundamental changes in traditional balance-of-power equations. Geographically, this 'Rising East'1 encompasses a vast triangle that extends from the Russian far east and Korea in the northeast, to Australia in the south and Pakistan in the west. It seems that the twenty-first century will be shaped by new racial and cultural forces. For several hundred years, the world has been dominated by white Europeans and Americans who hold to Judaeo-Christian traditions and they will soon be obliged to accept as equals yellow and brown Asians who adhere to the tenets of Buddhism, Confucianism, Hinduism and Islam. In the next twenty years, Asia, currently home to more than half the world population, will most likely have five of the world's six largest economies, the US being the other. China has emerged as the rising star of the entire region, economically and politically. In ancient times, so strong was China that its people became accustomed to thinking of their country as the Middle Kingdom or Zhungguo, the centre around which all else revolved.
    [Show full text]
  • Religious Beliefs and Environmental Behaviors in China
    religions Article Religious Beliefs and Environmental Behaviors in China Yu Yang 1,* and Shizhi Huang 2 1 Department of Public Administration and Moral Development Institute, Southeast University, Nanjing 210096, China 2 School of Public Administration, Hohai University, Nanjing 210098, China; yzfl[email protected] * Correspondence: [email protected] Received: 3 January 2018; Accepted: 5 March 2018; Published: 7 March 2018 Abstract: The role of religion in the environment has yet to be empirically investigated in the country with the largest atheist population across the globe. Using data from the Chinese General Social Survey 2013, we examined the effects of religious beliefs on environmental behaviors in China. Dependent variables of private and public environmental behaviors were identified by factor analysis. The estimation revealed a contradictory result that most religious beliefs had negative effects on private environmental behaviors while having positive effects on public environmental behaviors. The findings suggest a religion–politics interactive mechanism to enhance pro-environmental behavior in China. Keywords: private and public environmental behaviors; Chinese religions; ecological civilization; government 1. Introduction Scholarly interest in studying the role of religion in the environment has received substantial attention for the past half-century. Since historian Lynn White(1967) argued that Judeo-Christianity with a domination ethic over nature had caused the ecological crisis, the consequences of the interactions between religions and the environment have been debated quite extensively in the literature (Berry 2013). With different perspectives and technical details as well as the multidimensional nature of environmental attitudes and actions, researchers have stimulated divergent results. Some researchers have provided empirical support for White’s argument (Dunlap and Van Liere 1984; Eckberg and Blocker 1989; Sherkat and Ellison 2007), while others held evidence with contrasting results (Boyd 1999; Shibley and Wiggins 1997).
    [Show full text]
  • Global Economy and China's Economy in 2021
    Global Economy and China’s Economy in 2021 Liqing Zhang Chief Economist of PwC China and Professor of the Central University of Finance and Economics December 2020 Global Economy and China’s Economy in 2021 Content 03 10 16 Uncertain and unbalanced global Significant risks to global finance in the Opportunities and challenges facing economy recovery post COVID-19 world China’s economy in 2021 Global Economy and China’s Economy in 2021 Uncertain and unbalanced global economy recovery Global Economy and China’s Economy in 2021 Uncertain and unbalanced global economy recovery (1) In April 2020, IMF substantially cut its IMF DataMappar Real GDP growth (Annual percent chage, 2020) growth forecasts for 2020: • Global economy would shrink by 3% in 2020 (IMF forecasted 3% growth at the beginning of the year) • Global economy would suffer from the worst recession since the “Great Depression”. • Nearly 90% of the countries recorded negative growth, the most extensive economic recession in the past 150 years. 6% or more 3%-6% 0-3% 90% -3%-0 less than -3% of the countries no data recorded negative growth Source: IMF, 2020, World Economic Outlook (April 2020) Global Economy and China’s Economy in 2021 4 Uncertain and unbalanced global economy recovery (2) Critical factor: COVID-19 The pandemic situation is still severe; China, Russia, the US and other countries are speeding up vaccine development, which is expected to make a difference. Trend of domestic/overseas newly confirmed cases Domestic Unit: case Overseas Domestic/Overseas newly Overseas cumulative Overseas cured confirmed cases cases/existing cases/deaths confirmed cases Global Economy and China’s Economy in 2021 5 Uncertain and unbalanced global economy recovery (3) According to IMF forecast in October: • World economy would shrink by 4.4% due to COVID-19, 4.3% for the US, 8.3% in Eurozone, and 3.3% for emerging market economies (EMEs), while China was expected to have a 1.9% growth.
    [Show full text]
  • 10. HONG KONG's STRATEGIC IMPORTANCE UNDER CHINESE SOVEREIGNTY Tai Ming Cheung Hong Kong Has Come a Long Way Since It Was
    - 170 - 10. HONG KONG’S STRATEGIC IMPORTANCE UNDER CHINESE SOVEREIGNTY Tai Ming Cheung Hong Kong has come a long way since it was dismissed as a barren rock a century and a half ago. This bastion of freewheeling capitalism today is a leading international financial, trading and communications center serving one of the world’s fastest growing economic regions. But Hong Kong is also entering a period of considerable change and uncertainty following its reversion to Chinese sovereignty that is likely to have a far- reaching impact on its strategic importance and role over the coming years. As a British colony, Hong Kong was an important outpost for the West to keep an eye on China and safeguard busy sea-lanes. Under Chinese rule, the Hong Kong Special Administrative Region (SAR) will play a crucial role in boosting China’s economic growth and promoting Beijing’s long-term goal of reunification with Taiwan. How China handles Hong Kong’s return will have major consequences for the territory as well as for China’s relations with the international community. The world will be watching very carefully whether Beijing will adhere to its international commitments of allowing the SAR to retain a high degree of autonomy. The U.S. has said that the transition will be a key issue in determining its future relations with China. This paper will examine the strategic implications of Hong Kong's return to Chinese rule. Several key issues will be explored: • Hong Kong's past and present strategic significance. • The stationing of the People's Liberation Army (PLA) in Hong Kong.
    [Show full text]
  • The Taiwan Issue and the Normalization of US-China Relations Richard Bush, Brookings Institution Shelley Rigger, Davidson Colleg
    The Taiwan Issue and the Normalization of US-China Relations Richard Bush, Brookings Institution Shelley Rigger, Davidson College The Taiwan Issue in US-China Normalization After 1949, there were many obstacles to normalization of relations between the United States and the new People’s Republic of China (PRC), but Taiwan was no doubt a key obstacle. The Kuomintang-led Republic of China (ROC) government and armies had retreated there. Washington maintained diplomatic relations with the ROC government and, in 1954-55, acceded to Chiang Kai-shek’s entreaties for a mutual defense treaty. After June 1950 with the outbreak of the Korean conflict, the United States took the position that the status of the island of Taiwan— whether it was part of the sovereign territory of China—was “yet to be determined.” More broadly, PRC leaders regarded the United States as a threat to their regime, particularly because of its support for the ROC, and American leaders viewed China as a threat to peace and stability in East Asia and to Taiwan, which they saw as an ally in the containment of Asian communism in general and China in particular. It was from Taiwan’s Ching Chuan Kang (CCK) airbase, for example, that U.S. B-52s flew bombing missions over North Vietnam. By the late 1960s, PRC and U.S. leaders recognized the strategic situation in Asia had changed, and that the geopolitical interests of the two countries were not in fundamental conflict. Jimmy Carter and Deng Xiaoping not only reaffirmed that assessment but also recognized a basis for economic cooperation.
    [Show full text]
  • Travel Guide China Beijing
    Travel Guide China Beijing ComplexionlessItalianate and limited or booming, Rudy Hebraising Barney never her poxesalters crunchany shiel! while Darcy Maury rebore reunified vaguely? some Byzantine raffishly. For starters, watch what should eat. Perhaps refresh and immerse again. Summer palaces that a museum that can watch what we guarantee that you for sensory overload on cell phones, there are good. We were sent us incredible weeks ahead though beijing part is always bring them ourselves while loading failed to china travel guide and. Bianyifang or Quanjude maintains several locations in hand city. While you can be done in beijing, or beijing travel guide china does it would decamp to follow and found. Over that period of do he has traveled by his, train, car, motorcycle and even camel to explore with every plague of why country. Both the massive complex in beijing travel guide china compared to southeast. On china guide to cancel the price in beijing west of foreign students this china guide id to use. One Who Fails to miss the grape Wall Is each Hero. April to November, September and October would be with perfect visiting time. Xizhimen and guide, travelling in china! Beijing and you will find the manner of stores selling silk carpets and other varieties. Nightlife in Beijing is mind so much trouble from western countries. Tokyo with china guide as various museums, and recreations for everyone tries to bring a need to beijing than others. Countless friends all four districts are things on standard bias for each region of guide china travel guide shan shan! This abundant and charming Jinshanling has finally been mediocre as useful place popular with outdoor enthusiasts.
    [Show full text]
  • South Africa and China: the Making of a Partnership
    SOUTH AFRICA A ND C HINA : T HE MA KING OF A P A RTNERS HIP OCCASIONAL PAPER 199 Global Powers and Africa Programme August 2014 South Africa and China: The Making of a Partnership Chris Alden & Yu-Shan Wu s ir a f f A l a n o ti a rn e nt f I o te tu sti n In rica . th Af hts Sou sig al in Glob African perspectives. ABOUT SAIIA The South African Institute of International Affairs (SAIIA) has a long and proud record as South Africa’s premier research institute on international issues. It is an independent, non-government think tank whose key strategic objectives are to make effective input into public policy, and to encourage wider and more informed debate on international affairs, with particular emphasis on African issues and concerns. It is both a centre for research excellence and a home for stimulating public engagement. SAIIA’s occasional papers present topical, incisive analyses, offering a variety of perspectives on key policy issues in Africa and beyond. Core public policy research themes covered by SAIIA include good governance and democracy; economic policymaking; international security and peace; and new global challenges such as food security, global governance reform and the environment. Please consult our website http://www.saiia.org.za for further information about SAIIA’s work. ABOUT THE GLOBA L POWERS A ND A FRICA PROGRA MME The Global Powers and Africa (GPA) Programme, formerly Emerging Powers and Africa, focuses on the emerging global players China, India, Brazil, Russia and South Africa as well as the advanced industrial powers such as Japan, the EU and the US, and assesses their engagement with African countries.
    [Show full text]
  • Section 3: China's Strategic Aims in Africa
    SECTION 3: CHINA’S STRATEGIC AIMS IN AFRICA Key Findings • Beijing has long viewed African countries as occupying a cen- tral position in its efforts to increase China’s global influence and revise the international order. Over the last two decades, and especially under General Secretary of the Chinese Com- munist Party (CCP) Xi Jinping’s leadership since 2012, Beijing has launched new initiatives to transform Africa into a testing ground for the export of its governance system of state-led eco- nomic growth under one-party, authoritarian rule. • Beijing uses its influence in Africa to gain preferential access to Africa’s natural resources, open up markets for Chinese exports, and enlist African support for Chinese diplomatic priorities on and beyond the continent. The CCP flexibly tailors its approach to different African countries with the goal of instilling admira- tion and at times emulation of China’s alternative political and governance regime. • China is dependent on Africa for imports of fossil fuels and commodities constituting critical inputs in emerging technology products. Beijing has increased its control of African commodi- ties through strategic direct investment in oil fields, mines, and production facilities, as well as through resource-backed loans that call for in-kind payments of commodities. This control threatens the ability of U.S. companies to access key supplies. • As the top bilateral financier of infrastructure projects across Africa, China plays an important role in addressing the short- age of infrastructure on the continent. China’s financing is opaque and often comes with onerous terms, however, leading to rising concerns of economic exploitation, dependency, and po- litical coercion.
    [Show full text]
  • China Economic Update - December 2020
    China Economic Update - December 2020 © 2020 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org This work is a product of the staff of The World Bank. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given. Any queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522- 2625; e-mail: [email protected]. Cover Photo: by Cat Box / Shutterstock 2 China Economic Update - December 2020 Acknowledgements The December 2020 issue of China Economic Update was prepared by a team comprising Luan Zhao (Task Team Leader), Sebastian Eckardt, Ibrahim Saeed Chowdhury, Ekaterine Vashakmadze, Maria Ana Lugo, Dewen Wang, Ruslan G. Yemtsov, Maryla Maliszewska, Ileana Cristina Constantinescu, Chiyu Niu, Yang Huang, Linghui Zhu, Franz Ulrich Ruch, Qiong Zhang, Yusha Li, Xintian Wang, and Lubai Yang.
    [Show full text]