Investment environment for Western firms in China deteriorates
The investment environment for Western firms in China is deteriorating due to a Zero-Covid policy without end, drought, worsening relations between Beijing and Washington and Brussels, disputes over Xinjiang and human rights and more protectionist policies.
"We are very distressed about the zero-tolerance policy, the kind of closing-up of the country," said Joerg Wuttke, President of the European Chamber of Commerce in China. "We see no end to it.
"The world has found its way back living with the Omicron virus, whereas here I must get tested every three days. We must find a way out of this, and I do not see any exit strategy," he said. Since the start of the pandemic, the number of European expats in China has nearly halved.
On October 16, the Communist Party opens a Congress that will give President Xi Jinping a third term as party secretary and allow him to control key government appointments. ...