More to the point, what would be the strategic implications if it will not happen in the near to medium term, even if American and other Western business dealings andinvestment might encourage political as well as economic liberalization inChina over the longer term?
The obvious advantages of a licensing agreement are that it enables a company to monetize the value of its technology, does not expose the company to the difficulties of managing a businessinChina, and does not require a capital investment.