The vanishing allure of doing business in China
Who will be next? President Xi Jinping’s recent effort to socially engineer a new type of economy by, for example, breaking up Ali Pay from its sister company, has recently hit Chinese companies more than Western ones. Yet increasing crackdowns show rising tension between China and the West leave multinationals stranded in a sort of semi-legal limbo. The Economist analyses how for many the prospects of China are irresistible. But now the dangers are catching up with the promises.
From The Economist