Japan's regulatory system for hostile takeovers remains incomplete, complicated, and uncertain. As the government seeks to reignite economic growth and attract foreign investment, there is new urgency to promote best market practices and reform the system for adjudicating hostile takeover bids. Bruce Aronson and Andrew McDermott will share their insights.

Nippon Steel’s planned purchase of former giant U.S. Steel is currently the most important and controversial topic in US-Japan economic relations.  Regardless of whether the purchase is ultimately allowed to proceed, the public opposition from leaders of both American parties raises important questions for the future. What effect could this have on other Japanese FDI into the US and broader US-Japan cooperation? Is there a risk of reciprocity when US companies seek to make acquisitions in Japan? To what extent does it represent a significant broadening of the definition of “national security” against the background trend of de-globalization and the reshoring of supply chains? William Chou, deputy director of the Japan Center at the Hudson Institute, and Hiroyuki Nishimura of Nikkei will put the Nippon Steel-U.S. Steel acquisition in context in a panel discussion with NYU Law Adjunct Professor Bruce Aronson and NYU Law Professor Jose Alvarez (moderating).

China’s success in cultivating Big Tech firms has enabled it to emerge as a formidable rival to the United States in the digital sphere. But in the past few years, the Chinese government has embarked on a massive regulatory crackdown, targeting its largest tech corporations such as Alibaba, Tencent, and Meituan. Many Western experts have viewed this tech crackdown as an assault on private businesses, causing doubt among investors about whether Chinese firms are still investable. Professor Angela Zhang will go beyond the headlines to unravel the dynamic complexity of China’s regulatory governance. Drawing insights from her newly published book, High Wire: How China Regulates Big Tech and Governs Its Economy, she will introduce the dynamic pyramid model of regulation, an analytical framework that demystifies Chinese regulatory governance. She will examine the impact of the tech crackdown on the administrative state, the competitive landscape, and global tech rivalry. And she will peer into the future by examining China’s strategy for regulating generative artificial intelligence. 

Chinese companies that operate in the US face an increasingly complex legal and political landscape. Rising geopolitical tensions between China and the US make it difficult for Chinese multinationals to comply with the laws of both countries. But they are reluctant to leave the US, having made substantial investments here. In Negotiating Legality: Chinese Companies in the U.S. Legal System, Ji Li uses interviews and survey data to tell the story of how Chinese companies develop in-house legal capacities, engage with US legal professionals, and navigate litigation in US courts. 

Labor unions have recently reappeared in news headlines in Japan and the US as both countries recognize a need to improve employee wages, benefits, and working conditions.  However, there is a striking fundamental difference between the two countries.

China’s staggering economic development over the past four decades owes much to the effectiveness of its tax system. Wei Cui, a professor of law and tax expert at the University of British Columbia, will share highlights from his 2022 book The Administrative Foundations of the Chinese Fiscal State, in which he introduces the politics, policies, and practices of tax collection in China.

Stimulating private entrepreneurship has been a purportedly vital item on the Chinese government’s recent policy agenda, though perhaps few have given it credence. Arguably the most significant legislative implementation of this policy was the 2013 amendment of the Company Law, which reformed long-standing “registered capital” rules.

In many advanced countries, traditional forms of capitalism have increasingly come under criticism as contributing to economic and social inequality and failing to serve the needs of society. Law Professors Gen Goto and Curtis J. Milhaupt will discuss the similarities and differences between new forms of capitalism being circulated in Japan and the US, and the implications for corporate governance and, more broadly, society.

States take the center stage at global climate negotiations, but corporations sit squarely in the crosshairs as contributors to climate change, casualties of the fallout, and indispensable participants in any response. Governments, investors, and publics across Asia-Pacific are increasingly demanding that corporations do more to address the climate crisis.