经济学人下载:爱意渐失 中国公司成美国市场的最新情人(下)

The third reason for foreign firms’ discontent is the growth in lobbying, litigation and regulatory action in America.
令外国公司不满的第三个原因是美国游说、诉讼、监管行动的日益增多。

Foreign companies feel they are at a competitive disadvantage.
外国公司感觉自己处于竞争劣势。

In the most regulated sector of all—banks—their market share has fallen to 14% from 18% in the past 24 months, partly, they argue, owing to onerous new rules.
在银行业这一监管最严的领域，它们所占的市场份额在过去24个月里已从18%下降至14%。它们认为繁重的新规定是导致这一结果的部分原因。

Most fines involve lots of official discretion.
大多数罚款都涉及很多的行政裁量。

In carmaking and energy, Volkswagen and BP have admitted their respective responsibilities for fake emissions tests and the Deepwater Horizon oil spill.
在汽车制造业和能源产业，大众和BP已分别对排放测试造假及“深海地平线”（Deepwater Horizon）钻井平台石油泄漏事故承认负有责任。

But many European bosses believe that the cumulative $70bn of legal costs and penalties they have paid or currently face far exceed those that General Motors and ExxonMobil paid for similarly grave mistakes.
但许多欧洲公司老板相信，两家公司已支付或目前面临的累计700亿美元的诉讼费用及罚款远超过通用汽车和埃克森美孚为类似的严重错误所付出的代价。

In December Barclays vowed to fight a $5bn-odd fine for mortgage mis-selling, which it argues is harsher than those faced by American banks.
去年12月，巴克莱银行因不当销售抵押贷款证券的指控被判罚50多亿美元。巴克莱誓将上诉，认为这比其他美国银行受到的判罚更严厉。

The Trump administration could well awaken a protectionist impulse at big domestic firms that lies not far beneath the surface, reckon the most pessimistic of all.
最为悲观的看法认为，特朗普政府很可能唤起国内大企业那隐藏不深的保护主义冲动。

Jamie Dimon’s latest letter to the shareholders of JPMorgan Chase warns that American banks’ dominance could be threatened by Chinese rivals.
杰米·戴蒙（Jamie Dimon）最近在给摩根大通股东的信件中警告道，美国银行的主导地位可能会受到中国对手的威胁。

A report on semiconductors for the White House last month, written by a body that includes the bosses of Google, Qualcomm and Northrop Grumman, recommends protecting the chip industry from Chinese competition.
上月，谷歌、高通（Qualcomm）、诺斯洛普·格鲁门（Northrop Grumman）等公司的高管联合为白宫撰写了有关半导体的报告，建议保护美国芯片行业免受来自中国的竞争。

America’s airlines constantly complain about unfair competition from Emirates and other rivals.
美国的航空公司也经常抱怨阿联酋航空等对手的不公平竞争。收购，或者变身

A more populist America may require fresh tactics from foreigners.
面对民粹主义抬头的美国，外国人可能需要采取新策略。

Some are working on their connections.
有些人正在努力搭建人脉。

Masayoshi Son, boss of SoftBank, pledged to invest $50bn in America after meeting Mr Trump in December.
软银老板孙正义在去年12月与特朗普会面后承诺向美国投资500亿美元。

The head of Anbang Insurance, a Chinese firm that is no stranger to relationship-based capitalism at home, dined with Mr Trump’s son-in-law, Jared Kushner, in November.
中国的安邦保险在本国深谙资本主义的关系之道，其董事长与特朗普的女婿贾瑞德·库什纳（Jared Kushner）在去年11月曾聚餐接洽。

Anbang owns the Waldorf Astoria, among other American assets.
安邦拥有华尔道夫酒店等美国资产。

Another approach is to buy a well-placed oligopoly.
另一方式是收购业绩优秀的寡头垄断企业。

InBev’s purchase in 2008 of Anheuser-Busch, maker of Budweiser Beer, has become a model for winning in America.
英博（InBev）在2008年收购了百威啤酒的制造商安海斯-布希（Anheuser-Busch），成为外国公司在美国的制胜典范。

Other deals in 2016 echoed it.
2016年的其他并购案重复了这一模式。

Bayer agreed to buy Monsanto, which dominates the agricultural-seed business, and BAT is bidding for Reynolds American, which has a big share of the tobacco market.
拜耳同意收购雄霸农业种子生意的孟山都（Monsanto），英美烟草公司（BAT）正在竞购在烟草市场上占有相当份额的雷诺兹美国公司（Reynolds American）。

A last option is for foreign firms to assume a more American identity.
外国公司的最后一个选择是进一步美国化。

In sensitive sectors, they already try to take on a local character.
在敏感行业，它们已努力尝试本地化。

BAE Systems, a defence concern, has a separate American board stacked with former brass hats.
军火企业英国BAE系统公司（BAE Systems）单独另设美国董事会，由退役高级军官坐镇。

After the trade spats of the 1980s, Asian car firms localised their production and management.
20世纪80年代的贸易争端后，亚洲的汽车公司已将其生产及管理本地化。

Rupert Murdoch shifted his media empire’s domicile from Australia to America in 2004.
2004年，默多克将其媒体帝国的注册地从澳大利亚转移至美国。

As any dating-website veteran will tell you, if you can’t find love, change your appearance.
正如所有约会网站的老手会告诉你的那样，如果找不到爱人，那就改头换面再来。