The last few years have seen many US firms expand their presence in China. RAVINDER CASLEY GERA looks at whether they could overturn UK firms’ traditional dominance in the world’s fastest-growing legal market.
As the world reeled from the collapse of Lehman Brothers in October 2008, scant attention was paid to the news that a seven partner-team had quit Allen & Overy’s Hong Kong office for Latham & Watkins. But Latham’s bold move was indicative of a wider trend.
For years, US firms have been content to practice US law in China from small offices. But recently, they have gone for growth: establishing local law practices, opening new offices on the mainland, and raiding UK rivals.
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