British re-nationalization and regulation: the government's liability to shareholders
The British Labour Party (LP) can restore its pre-Thatcher administration prominence and regain the public's trust in the economy by buying out private owners of once publicly owned corporations such as the National Grid, hospital trusts and the water industry and returning such industries to state control. UK securities laws, which do not require full market value compensation for such security buy-backs, would serve such an LP strategy well, allowing the LP to bargain with private shareholders for the sale price and allowing the LP to gain regulatory control over key industries.
Publication Name: University of Pennsylvania Journal of International Business Law
Observations on capital market regulation: Hong Kong and the People's Republic of China
The reunification of Hong Kong with mainland China promises to expand Hong Kong's role as a conduit for international investment in China. Because Hong Kong's capital markets were developed based on free market principles, they have better growth potential than do China's markets. State control of China's markets has created inefficiencies and political risks that make western investors wary. Hong Kong's bond market has greater potential to increase international offerings than does its stock market, though both markets can expect to expand their Chinese offerings.
Publication Name: University of Pennsylvania Journal of International Economic Law
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