Despite political woes, America Inc is still thriving in China
Trade wars aren’t the only complications multinationals face there
FOUR DECADES ago communist China officially opened its doors to America and its capitalist firms. Politics, once seemingly set aside for the purpose of commerce, has recently made a comeback. President Xi Jinping has stirred up nationalism as part of his effort to consolidate power—worryingly for American firms seen as insufficiently deferential to China’s line on Hong Kong among other sensitive political topics. President Donald Trump’s trade war against China and his crackdown on Huawei, a domestic telecoms-equipment giant, have provoked further anti-American sentiments.
This article appeared in the Business section of the print edition under the headline “Still worth it”
From the January 4th 2020 edition
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