AMEX has spent a year clearing the hurdles necessary in order to be able to operate in China.
If all goes well, AMEX will become the first U.S. credit card network with permission to offer services to the Chinese market. Although there are other steps that are yet to be met in receiving full compliance, it is anticipated that the Chinese will be touting this advance toward opening its markets during their current meetings ongoing in China with President Trump’s top economic advisers. It’s unlikely, however, that that argument will impress the visiting U.S. advisers, as they view joint ventures such as this one as an effort by China to reduce American companies’ profits and siphon off their technical know-how. (Refer to a similar situation cited in an earlier post about Boeing in China.)
AMEX IN CHINA