China Takes Over 2 Japanese Electric Appliance Giants for TPP BenefitsPosted: April 8, 2016
Two recent Chinese takeovers of Japanese electric appliance giants have raised concerns: Midea Group’s 3.1 billion yuan (USD479 million) takeover of 80.1% of Japanese electronic giant Toshiba Corp’s white goods business and Foxconn Technology Group CEO Terry Gou’s USD3.5 billion takeover of 61% of Japanese electronic giant Sharp.
China will obtain the two giants’ patents, brands and other intellectual properties, but more importantly their market shares and sales channels in the world. As a result, Obama’s TPP may not set barriers to the export of the two Chinese buyers’ goods into TPP members.
Source: mil.eastday.com “US miscalculation: Obama helps China make big overseas purchases” (summary by Chan Kai Yee based on the report in Chinese)