In this short interview, CEO Witty of Glaxo – British multinational pharmaceutical, biologics, vaccines and consumer healthcare company – said that while Chinese government will continue to have a tension between building its domestic industry and fomenting an open competitive market in which foreign companies participates, it does a good job of making its market fair. Most importantly, Witty notes that it’s important to take a long-term view when it comes to China. Glaxo intends to embed its Chinese operations into an integral part of the company. You won’t be that successful if you just take a “tourist” of China, he said. Witty says Glaxo intends to profit as well as to innovate in China.
I usually prefer to keep my posts on general, important issues – and not nit-pick on other bloggers. However, just as once in a while one is permitted to get drunk, I will indulge in a very short post here on Stan Abrams of China Hearsay.
A few weeks ago, when China lost the WTO Appellate Body dealt China a blow in ruling that its practices on restricting exports of certain minerals / raw materials violated WTO rules, I had written a post on how unfair the decision was. An agreement that categorically prohibits a nation of 1.3 billion from making any sort of export restrictions to protect its citizens and their environment is unfair. An agree that does so by discrimination – taking away such basic rights from China while preserving such them for other WTO members cannot be conscionable and cannot stand the test of time. I openly sided with an op-ed in the Global Times calling out the injustice and calling for China to renegotiate the grossly unfair terms under which it acceded to the WTO.
As you may know, there is a heated high-profile war being waged in the U.S. now over a new bill called SOPA (“Stop Online Piracy Act” in the House) and PIPA (“Protect Intellectual Property Act” in the Senate). The bills have been temporarily put on hold, but the issues highlighted by the controversies will not go away.
The purpose of the bills is to enable IP owners to target foreign-based websites from selling pirated movies, music and other products in the U.S. The bills have pitted entities with high stakes in IP such as Hollywood studios and drug companies against tech companies that will be target of any new law such as Google and Wikipedia. Earlier this week, the latter staged various forms of high-profile blackouts, with Chris Dodd of the Motion Picture Association of America responding accusing the tactics as Read more…