- September 19, 2023
- Posted by: admin
- Category: Daily News
- American firms in China are the gloomiest they’ve been in decades about the prospect of doing business in the Asian nation over the next few years as geopolitical tensions and the slowing economy hurt sentiment.
- Just 52% of respondents to a poll by the American Chamber of Commerce in Shanghai said they were at least slightly optimistic about the business outlook in China over the next five years. That’s three percentage points less than in 2022 and the lowest since the chamber began surveying members in 1999.
- Weaker profits may also make it more difficult for companies to justify the geopolitical risks and regulatory hurdles of going big in China. Only 68% of survey respondents said they were profitable in 2022 — another record low — given the lengthy, widespread Covid-19 controls that hampered operations.