“Convince us to stay”:
U.S.-China ties see head-spinning shift
source: axios.com (contributed by FAN, Steve Page) | image: pexels.com
For decades, Corporate America has raced to cash in on China‘s economy. Now China officials are in sell-mode, a stunning reversal from years past.
Why it matters: CEOs know the two nations are economically intertwined in a way that can’t easily be undone. But executives are more cautious, a subtle yet significant sign of a power dynamic shift underway between the U.S. and China.
What they’re saying: “Often foreign companies were on the solicitous side, like ‘can you please let us in?,'” Kurt Tong, the former U.S. envoy to Hong Kong, tells Axios.
- “Now it’s a little bit more like ‘convince us to stay,'” Tong, who is currently at the Asia Group, adds.
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