China’s economy is in trouble.
China’s President Xi, speaking with forked tongue to the gullible, attempts to both revive an economy struggling to arrest a slide in the property sector by wooing Western capital, while also attempting to strengthen national security as military and trade tensions rise with the US. Even Chinese leader Xi Jinping has acknowledged the many challenges the country’s economy faced in calendar year 2023.
Western ompanies and investors have been caught in the middle, with executives hearing warm words from top Chinese officials only to then see authorities crackdown on consultancy firms, expand a vague anti-spy law and restrict access to data.
The Chinese economy has experienced higher unemployment, a downturn in manufacturing, reduce domestic GDP growth, political unrest, and a crashing real estate market, stated Gary Locke, former U.S. Ambassador to China. There exist lack of investor confidence and uncertainty in Chinese economy.
The country’s shift toward “a more totalitarian environment” has resulted in growing anxiety about being in China among foreign investors, according to Zak Dychtwald, founder of Shanghai-based trend research company Young China Group.
Western business people contemplating trips to China mist be crconcerned and exercise caution about the risks of unwarranted detention and becoming a political hostage similar to what has happened to U.S. citizens traveling to Russia, Venezuela, Iran and North Korea.
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