Multinational Corporations and the Transforming Operational Environment in China

China and the multinational corporations (MNCs) have had a long period of close relationship. In locating operations in China, MNCs beneficially followed the principle of least‐cost location. However, China's economic and business environment has been undergoing a striking transformation. The Chinese economy is losing some of its beneficial emerging‐market traits. Many foreign business enterprises and MNCs have experienced deep erosion of profits. This article first focuses on the growing importance of China and the Chinese markets for foreign business firms and MNCs. The sheer size of the market naturally draws them in. Next, it dwells on the challenges that have evolved over the years and the budding new business environment, often referred to as “the new normal.” Many MNCs realize the need to adapt to the new operating environment in China. This article proposes a list of adaptive and coping measures for the foreign enterprises and MNCs. © 2015 Wiley Periodicals, Inc.     

Digital Privacy: GDPR and Its Lessons for Australia

Australia's Privacy Act 1988 is under review with a view to bringing Australia's privacy laws into the digital era, more in line with the European Union's General Data Protection Regulation (GDPR). This article discusses how the GDPR can be refined and standardised to be more effective in protecting privacy in the digital era while not adversely affecting the digital economy that relies heavily on data. We argue that an ideal data policy should be informative and transparent about potential privacy costs while giving consumers a menu of opt-in choices into which they can self-select.