The 1988 Trade Act by the United States Congress directed the U.S. Attorney General to provide guidance to potential exporters and small business regarding the Foreign Corrupt Practices Act of 1977, an act all U.S. businesses operating in China need to be familiar with.
In general, the Foreign Corrupt Practices Act allows American businesses to make payments to foreign officials that are lawful under the written laws of the foreign country. Unfortunately, in the context of China, this has the potential to place American companies in a position where they must decide between violating the FCPA and losing Chinese business.
The European Union is China's largest trading partner, and despite growing protectionism on the mainland, optimism among EU businesses in China remains high, but for how long? While gains by some marquee European companies have strengthened ties between the EU and China, falling exports and rising barriers are causing problems.
In 2005, then-Vietnamese President Tran Duc Luong and Chinese President Hu Jintao issued a joint communiqué recognizing their common goals for expanding bilateral relations and addressing territorial border issues. The agreement set the ball rolling for a five-year plan that aims to lead to US$15 billion two-way trade by 2010 under the banner, "two corridors, and one economic belt."

