A news that China will open anti-monopoly tickets for US automakers on the 14th has made US public opinion nervous. After US President-elect Trump challenged the one-China policy, the hearts of American companies were hung, fearing that China would take retaliatory measures. In the eyes of many American media, the news from China indicates that fear has become a reality. "China has issued a warning to Trump's remarks."
CNBC TV reported on the 14th that Chinese media reported that Zhang Handong, director of the Anti-Monopoly Bureau of the National Development and Reform Commission, revealed on the same day that investigators found that a US company began to instruct dealers to manipulate prices in 2014. China will soon be on the US automaker. The monopolistic behavior is imposed. The Chinese official did not disclose which American car company, but a number of American media focused on two companies - GM and Ford. GM immediately responded on the 14th, "No matter where we operate, we will fully comply with local laws and regulations, and we will not comment on the media's speculation." However, GM did not directly respond to whether the company is accepting the Chinese investigation. A Ford Motor Asia-Pacific business spokesperson said on the 14th that "it is not clear that this is the case." On the day of the news, GM shares closed down 3.77%, while Ford closed down 1.88%.
The Chinese movement quickly caused speculation in the Western media. "USA Today" said that on the day of China’s investigation of US auto companies, Chinese officials warned that changes in US policy toward Taiwan would undermine regional stability. The US Detroit News Network believes that China has chosen American car companies as the target of anti-monopoly investigations in order to retaliate against Trump's questioning of the one-China policy. Reuters believes that Chinese auto industry sources said that China’s investigation of US companies has begun before Trump’s remarks, but Chinese officials have chosen to reveal news at this time, perhaps in response to the upcoming Trump administration. caveat. The financial information website The Street quoted well-known financial presenter Jim Cramer as saying that the Chinese government may be more inclined to respond with actual actions than the export warning, and US multinationals like GM will be at risk. Before the stock price crash on Wednesday, GM's share price rose more than 20% in the past three months due to strong sales growth in the market including China.
Wei Shizhen, senior partner of Beijing Dacheng Law Firm and director of the Competition and Anti-monopoly Committee of the Beijing Bar Association, told the Global Times reporter on the 15th that the legal procedure for the monopoly of auto prices is not complicated. "If the facts are clear, a ticket can be issued." . From the previous penalties in the auto industry, companies are generally required to stop illegal activities and rectify and accept fines. The fine is stipulated as 1% to 10% of the sales of the previous year. The specific amount depends on the specific circumstances of the company's violation of the law, the duration of the action, the severity of the behavior, and the situation of the company's cooperation with the investigation. After the regulatory authorities demand rectification, the relevant enterprises must release the monopoly, which will inevitably affect the sales and income of the enterprise.
CNBC TV said that China is the world's largest auto market, and the public dissatisfaction is more harmful to American automakers than the fine. James Zhao, general manager of the British IHS Markit Consulting Company, said that fines are a piece of cake for big car companies, but the impact is even more on the impact of public opinion. The public relations effect of media reports on consumers will Sales have a significant impact. According to USA Today, GM’s sales in China are the largest among all US car companies. GM's Buick brand cars are four times more sold in China than in the US, and the Chinese market is critical for GM. In 2015, GM sold 9.96 million units worldwide, with sales in China accounting for more than one-third. GM’s earnings for the year were $9.7 billion, and its joint ventures in China accounted for 20%. Ford's global pre-tax total profit for 2015 was $9.4 billion, and its joint ventures in China accounted for 16%.
Reuters said that many analysts believe that it is unlikely that a direct military confrontation or a real trade war will occur between China and the United States, even though Trump had threatened to impose a 45% tax on Chinese goods in the campaign. If Trump continues to make a fuss about the most sensitive Taiwan issue in Sino-US relations, there are many other ways to fight back in China. Boeing and General Electric have a huge presence in China and can also be an effective target for China's strikes. The US Fox News Network also believes that Boeing may become the "first victims" after the escalation of Sino-US trade tensions. Hamilton, a US commercial aircraft expert, believes that "China has the habit of using aircraft orders as a means of reward and punishment."
Reuters quoted an anonymous US official on the 15th as saying that the Obama administration unanimously believes that Trump is not fully aware of the consequences of provoking China on the Taiwan issue. I hope that Trump will realize that China's economic, diplomatic and military progress is so great before it can take over from Obama. It is unwise to challenge China on the basic principles of bilateral relations.
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