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Silent twenties

People often use the term ¡°roaring twenties¡± to describe the 1920s decade in Western society, celebrating the explosion of fashion, art and glamorous lifestyles. A hundred years later, China goes the other distance by ushering in a¡°silent twenties¡±, as it becomes the global top seller of electric vehicles (EVs), notable for their quiet engines replacing the bellowing internal combustion engines of old.

However, one must not forget that the¡°roaring twenties¡± was in and of itself a cautionary tale for cracks beneath the sheen, with speculative investments accompanying rapid industrial growth leading to the Great Depression. Similarly, upon closer inspection, China¡¯s EV landscape is not without its fair share of must-avoid traps.

Our cover story, Elimination race, sheds light on the brutal survival squeeze among rising Chinese brands, industry consolidation and global trade protectionism. General counsel and lawyers deeply engaged with the sector further discuss the regulatory challenges with autonomous driving, and what carmakers and their vast array of suppliers can do to seize the moment.

Moving down to a neighbouring country in the south, Vietnam is executing what lawyers are calling the country¡¯s most ambitious administrative overhaul in decades, with sweeping administrative and judicial reforms fuelling cautious optimism.

In The restructure, senior lawyers based in Vietnam discuss the reforms in detail, as well as their impact on the vast business community. Enthusiasm for fresh opportunities abounds, but businesses are reminded of the risks in navigating a system still in flux.

The active industry-boosting moves in Asia have not gone unnoticed. In Havenly Bliss, our exclusive interview with Natalio Wheatley, Premier and Minister of Finance of the British Virgin Islands, the leader of the offshore haven remarks on the importance of the Asia-Pacific market and the BVI¡¯s key competitive edges.

Notably, the premier touched on many issues of great concern among investors, such as the increasingly stringent requirements for ¡°economic substance¡± and dwindling VIE-based overseas listings from China.

In times of profound transformation, businesses often look to their trusted counsel for guidance and advice. However, finding the right help for the right task is a challenge in its own right. Over time, heads of legal have developed the empirical practice of sourcing the best-fit legal help into astute market observations.

In Next-gen alliances, general counsel in China reflect on the evolving relationship between companies and law firms, as well as the greater expectations. Where reactive risk assessments and regulation interpretation sufficed in the past, law firms are now regarded as co-creators of business value, making business objectives a stand-out factor in the equation.