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The original was posted on /r/worldnews by /u/College_Prestige on 2023-11-05 04:59:07.
This is the best summary I could come up with:
BEIJING – Outflows of foreign direct investment in China have exceeded inflows for the first time as tensions with the U.S. over semiconductor technology and concerns about increased anti-spying activity heighten risks.
Foreign investment had remained sluggish after falling sharply in the April-June quarter of 2022, when the Chinese economy was in turmoil from the zero-COVID lockdown in Shanghai.
Washington is coordinating with Beijing ahead of a summit meeting between Presidents Joe Biden and Xi Jinping in November, but the U.S. remains committed to technology restrictions in the name of economic security.
The revised Chinese counterespionage law, which took effect in July and broadens the scope of what is deemed spying, has also made companies nervous.
“Foreign companies are becoming increasingly concerned about authorities’ emphasis on security, and it is unlikely that their cautious stance toward China will change quickly,” Miura said.
China is rushing to build its own chip supply chain in anticipation of prolonged tensions with the U.S., but procurement of necessary equipment and parts from overseas has been slow.
The original article contains 482 words, the summary contains 171 words. Saved 65%. I’m a bot and I’m open source!
Lophostemon@aussie.zone 2 years ago
Foreign investment should go to zero and Chinese nationals should not be allowed to purchase any western property.