SINGAPORE (Mar 18): Prior to an IPO, a company does a road show. It tells one story to fund managers and a similar story to the media. Investors have to consider these narratives and seek out counter-narratives in an attempt to make a more informed decision. The truth, such as it might be, often lies somewhere between the two competing stories.

On a broader scale, investors are now being asked to make a choice between two narratives around China, China trade and China investment. It is useful to tease out and examine some of these claims because, on one side, they form a basis for policy positions that have an impact on investment choices.

Consider these assertions from former Dow Chemical CEO and presidential industry adviser, Andrew Liveris. They reflect the view that is prevalent in the White House. He writes: “There’s not much doubt that China would benefit enormously from an influx of the world’s best technology and companies.”

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