WSJ: “China’s Dalian Wanda Group Faces Renewed U.S. Regulatory Scrutiny”

The Wall Street Journal reports of Chuck Schumer, New York Senator and House Minority Leader:

Mr. Schumer said the ability for Chinese companies to take a majority stake in U.S. assets, often backed by state officials and China’s sovereign-wealth funds, is unfair considering stateside companies are handicapped from doing similar deals in China. U.S. companies hoping to do business in China usually have to form a joint venture that often includes the sharing of intellectual property—an arrangement that Mr. Schumer called a “pay to play system.”

I was critical of the decision to go with Schumer as minority leader, but if he continues to take action like this, I would gladly retract that.

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