A former U.S. Congressman, Chris Cox now serves as a Partner of Bingham McCutchen LLP and President of Bingham Consulting LLC. In his leadership role at Bingham Consulting, Chris Cox leverages his experience in cross-border investment and corporate governance to advise companies on their global strategies. Christopher Cox has also shared his expertise during events such as the Sino-U.S. Mayors Summit, which convened mayoral leaders from the United States and China.
According to a recent Bloomberg News survey, economists expect China to reach its 7.5 percent growth target in 2013. Furthermore, analysts predict that the country will maintain this pace into 2014. The positive outlook stems primarily from the recovery of global markets, specifically those in the United States and Europe. As the financial situations in these areas continue to improve, China will benefit from more robust export markets.
In addition to its expected export growth, China has experienced a significant credit boom. As of mid-August, the Shanghai Stock Exchange Composite Index had increased approximately 6 percent from its low point in June. Finally, government officials are planning to widen the yuan’s trading band over the next six months.
With a background in securities and finance that included partnership in the international law firm of Latham & Watkins and service in the elected leadership of the U.S. House of Representatives, Christopher Cox accepted appointment as the 28th Chairman of the U.S. Securities and Exchange Commission in 2005. Currently, Chris Cox applies his financial, legal, and regulatory experience in his work as President of Bingham Consulting LLC. Chris Cox and his distinguished professional colleagues at Bingham Consulting, themselves former high-ranking government officials including U.S. Governors and top executives from the White House senior staff, the State Department, the Department of Justice, and the National Security Council, regularly advise clients on issues such as how the SEC and the Consumer Financial Protection Bureau affect international business.
In mid-August 2013, President Obama met with regulators to review their progress on the Dodd-Frank financial regulation act. After three years, officials have made little headway implementing many of the measures prescribed by the law. Those meeting with the President included the Treasury Secretary, the Director of the Consumer Financial Protection Bureau, and the Chairman of the SEC, among others. The meeting focused on the fact that these regulators had missed approximately 60 percent of the 279 deadlines that were set when the law was passed in 2010.
Analysts note, however, that progress is finally being made on many of the overdue rules. Regulators report they have moved forward on parts of the Dodd-Frank Act related to mortgage regulations and derivatives. The U.S. Commodity Futures Trading Commission has announced that 35 of its 43 required derivatives rulemakings are now completed. With regard to the much-debated Volcker Rule, which was to have been a centerpiece of the Dodd-Frank law that would regulate risky trading among banks, officials are not optimistic that the restriction will go into effect before early 2014.
A well-respected legislator and political leader, Chris Cox devoted two decades to public service in Washington, D.C. Presently, Chris Cox fulfills the role of President of Bingham Consulting LLC, a global firm devoted to integrating government, legal, and business strategies, with expertise in multijurisdictional controversies and opportunities, U.S. state attorneys general matters, corporate governance, brand protection, and many other issues. With offices in North America, Europe, and Asia, business strategies involving China are a particular focus of Bingham Consulting.
For over a year, commerce officials in the United States and the European Union have been involved in disputes with China over solar panel tariffs. In October of 2012, the United States imposed levies of up to 36 percent on the alternative energy products, stating that companies such as the Chinese solar giant Suntech Power Holdings Co., Ltd., had illegally dumped cheap photovoltaic cells into the U.S. market. More recently, the European Union has become engrossed in what threatens to develop into a full-scale trade war over proposed solar panel tariffs of up to 68 percent.
Officials point out that the vast subsidies the Chinese government is awarding to domestic solar companies stand to harm competition in the European Union. Both the EU and the U.S. tariffs are designed to counteract this advantage. As EU officials debate the levy, China has started pressuring individual countries, specifically Germany, and has proposed its own tariffs on goods from the European Union.
Learn more about Christopher Cox and his work with Bingham Consulting at www.bingham.com.