The White House issued a “Fact Sheet” summarizing the outcome of the meetings between President Xi and President Obama with respect to areas in which the United States and Chinese governments agreed “to work together to constructively manage our differences” and decided “to expand and deepen cooperation.”

As companies expand into overseas markets, they are increasingly turning to joint ventures (“JVs”) with local companies instead of acquisitions or establishing their own local greenfield operations. This trend is not surprising and is likely to continue. A JV with a local company usually offers faster market entry and can…