China investment should follow Westphalian principles, says Nobel laureate Paul Romer

Companies entering China's market need to accept the notion of “Westphalian sovereignty”, according to Paul Romer, co-recipient of the 2018 Nobel Prize in economics. In an interview with the South China Morning Post, Romer said acknowledging along with acknowledging state sovereignty, companies get in step with the norms and rules of the state-directed Chinese system.