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China Seeks to Rebrand Global Image With Import Expo

BEIJING Facing a blizzard of trade complaints, China is throwing an “open for business” import fair hosted by President Xi Jinping to rebrand itself as a welcoming market and positive global force.

More than 3,000 companies from 130 countries selling everything from Egyptian dates to factory machinery are attending the China International Import Expo, opening Monday in the commercial hub of Shanghai. Its VIP guest list includes prime ministers and other leaders from Russia, Pakistan and Vietnam.

The United States, fighting a tariff war with Beijing, has no plans to send a high-level envoy.

Xi’s government is emphasizing the promise of China’s growing consumer market to help defuse complaints Beijing abuses the global trading system by reneging on promises to open its industries.

“This says, look, we’re not a global parasite that is creating massive deficits, we are buying goods,” said Kerry Brown, a Chinese politics specialist at King’s College London.

The event also is part of efforts to develop a trading network centered on China and increase its influence in a Western-dominated global system.

President Donald Trump and his “America First” trade policies that threaten to raise import barriers to the world’s biggest consumer market loom in the background.

Exporters, especially developing countries, want closer relations with China to help “insulate themselves from what is happening with Trump and the U.S.,” said Gareth Leather of Capital Economics.

China has cut tariffs and announced other measures this year to boost imports, which rose 15.9 percent in 2017 to $1.8 trillion. But none addresses the U.S. complaints about its technology policy that prompted Trump to impose penalty tariffs of up to 25 percent on $250 billion worth of Chinese imports. Beijing has responded with tariff hikes on $110 billion worth of American imports.

Chinese ambitions

Chinese leaders have rejected pressure to roll back plans such as “Made in China 2025,” which calls for state-led creation of global champions in robotics and other fields, ambitions that some American officials worry will undermine U.S. industrial leadership.

To keep the economy growing, China needs to nurture its consumer market, and that requires more imports.

But foreign companies say regulators are still trying to squeeze them out of promising industries and that they face pressure to hand over technology.

The Shanghai expo “will be of little consequence to U.S. and other companies unless its pageantry is matched by meaningful and measurable changes in China trade practices,” Kenneth Jarrett, president of the American Chamber of Commerce in Shanghai, said in an email.

Some companies might get a brief sales boost, “but its long-run impact will be defined by China’s willingness to end many of its unfair trade practices,” said Jarrett.

Europe, Japan and other trading partners have been leery of Trump’s tactics but echo U.S. complaints.

They say Beijing improperly hampers access to finance, logistics and other service industries. European leaders are frustrated that Beijing bars foreign acquisitions of most assets while its own companies are on a global buying spree.

Writing in a Chinese business magazine, the French and German ambassadors to Beijing appealed for changes including an end to requirements that foreign companies operate in joint ventures with state-owned partners. They called for an overhaul of rules they say hinder companies from profiting from and protecting their technology.

“We encourage China to address these issues through concrete and systematic measures that go beyond tariff adjustments,” Ambassadors Jean-Maurice Ripert of France and Clemens von Goetze of Germany wrote in the magazine Caixin.

China already is the No. 1 trading partner for all its Asian neighbors, though a big share of the iron ore, industrial components and other goods it buys are turned into smartphones, TV sets and other goods for export.

Better access to some goods

Tariff cuts announced over the past year were aimed at giving Chinese consumers better access to foreign goods. Chinese leaders emphasize those include anti-cancer drugs and other medical products. But many are specialty goods such as high-end baby strollers, avocados and mineral water that don’t compete with Chinese suppliers.

The Shanghai expo also gives Beijing a chance to repair its image following complaints about its “Belt and Road Initiative to expand trade by building ports, railways and other infrastructure across a vast arc of 65 countries from the South Pacific through Asia to Africa and Europe.

Governments including Nepal, Sri Lanka and Thailand have scrapped or scaled back projects because of high costs or complaints that too little work goes to local companies. Sri Lanka, Kenya and other nations have run into trouble repaying Chinese loans.

“It’s become too associated with debt and China getting what it wants,” said Brown. “They are trying to get out this more positive message that China is open for business.”

Source: Voice of America

Medibio Appoints Global Healthcare & Medical Device Leader as CEO and Managing Director

SYDNEY, Australia and MINNEAPOLIS, Nov. 02, 2018 (GLOBE NEWSWIRE) — Medibio Limited (MEB or the Company)(ASX: MEB)(OTCQB: MDBIF), a mental health technology company, announces the appointment of David B. Kaysen as CEO and Managing Director.

Mr. Kaysen brings more than 35 years of experience leading and managing both domestic and international emerging growth companies. He has achieved consistent and solid results with bio-pharmaceutical, medical device, and clinical software/IT companies. He is experienced in the FDA approval process, leading products in revenue growth, and has experience in Australia.

Prior to joining Medibio, Kaysen served as President, CEO and director of Sun BioPharma, Inc., a biopharmaceutical company developing a drug for pancreatic cancer. During his tenure, he successfully completed a reverse merger to form a U.S. publicly traded company, strengthened organization structure with public company experience in key leadership and board roles, and raised in excess of $9 million to advance the lead candidate drug into clinical trials in the U.S. and Australia.

From 2006 until 2013, Kaysen served as President, CEO and director of Uroplasty, Inc., a Minnesota-based publicly traded global medical device company, which he guided through successful clinical trials and grew annual sales from $6.7M in 2007 to $22M in 2013. He also successfully completed four rounds of financing, raising $26.5M to fund company growth.

In previous roles, Kaysen served as President, CEO, and director of Advanced Duplications Services, LLC; President, Chief Executive Officer and a director of Diametrics Medical, Inc., and President, CEO, and director of Rehabilicare, Inc., a global rehabilitation and neuromodulation company, where he grew sales from $4M to $73M in sales over a ten-year period.

In addition to his role on the Board of Sun BioPharma, Mr. Kaysen currently serves in Board of Director roles for privately held healthcare companies, InterRad Medical and Spinal Singularity, and as an Advisory Board member for Ireland-based Atlantic Therapeutics and Minneapolis-based EXB Solutions. Kaysen has also served as an advisor and senior executive for several domestic and European growth-oriented, privately-held healthcare companies.

The appointment of Kaysen follows an extensive search conducted by Medibio and Finnesse Partners for a CEO with proven ability to advance the Company, assist in regulatory and scientific advancements, and guide the technology into commercialization. Our selection process included candidate screening by the recruiting firm, interviews with the executive management team, individual and group interviews with our Board of Directors, a full psychological assessment, and a thorough employment history and personal background check.

Kaysen, a Twin Cities native, brings important relationships and experience to Medibio, which is located in one of the United States’ leading medical technology communities.

“Dave has proven time and time again his ability to lead healthcare companies through periods of critical growth and development, while meeting key regulatory objectives and exceeding financial goals,” said Chris Indermaur, Chairman, Medibio Board of Directors. “We are thrilled to have Dave on board at Medibio, as his experience in the global medical technology space will be invaluable as we continue our mission of focusing on the aiding, screening, diagnosing, and managing of mental health.”

Summary of Key Terms of CEO/Managing Director Contract:

In accordance with ASX Listing Rule 3.16.4, the material employment agreement terms are as follows:

(a) Term: Commencing November 5, 2018
(b) Salary: US$360,000 annually
(c) Incentive Scheme:
(i) Short term Incentive (STI) 50% of base annual salary payable in cash or shares on performance milestones to be agreed
(ii) Long term Incentive (LTI) 10 million Options exercisable at A$0.45 with a 5-year term. Two million options to vest each year, accelerated in the event of a change in control transaction.
(d) Termination:
(i) By the Company: Three months written notice (or payment in lieu).
(ii) By the Executive: Three months written notice.

About Medibio Limited
Medibio (ASX: MEB) (OTCQB: MDBIF) is a mental health technology company that has pioneered the use of objective digital biomarkers to assist in the screening, diagnosing, monitoring and management of depression and other mental health conditions. The company was founded in Australia, with offices located in Melbourne (Vic), Perth (Wa) and U.S. offices in Minneapolis, MN. Medibio is listed on the Australian Securities Exchange Ltd and trades on the OTCQB Venture Market. Investors can find additional information on www.otcmarkets.com and www.asx.com.au

Further Information:  Website: www.medibio.com.au
Medibio Enquiries:
Kristi Hamilton
Senior Marketing Communications Manager
Medibio Limited
kristi.hamilton@medibio.com.au
T: +1 952 232 0934
Australian Media Enquiries:
Peter Taylor
NWR Communications
peter@nwrcommunications.com.au
T: +61 (0) 412 036 231