The News
China lost a record $15 billion of foreign investment last quarter, state data showed. If the decline continues through 2024, it would be the first annual net outflow of cash since at least 1990, Bloomberg reported, reflecting investors’ “deep pessimism” about China’s slowing economy as foreign firms scramble to reduce their exposure in light of Beijing’s growing hostility with the West.
The US Ambassador to China, Nicholas Burns, blamed the country’s espionage laws for intimidating the business community, telling CBS News in June that the government has competing priorities: Growing the economy and maintaining national security.