In practice, these arrangements have collapsed for three reasons.

ECONOMIST: Joint ventures in China

We have seen how such arrangements work in practice in Lebanon, though-- which is to say not well.

CENTERFORSECURITYPOLICY: Obama's not-so-hidden agenda

In practice, however, these arrangements make it possible for an unscrupulous foreign entity to register its offering overseas and then market its bonds to Qualified Institutional Buyers through a U.S. holding company.

CENTERFORSECURITYPOLICY: Center For Security Policy