Today: 6 July 2025
24 September 2021
2 mins read

Xi’s China turning into a dangerous place for investment

China in recent times announced a large number of crackdowns against private businesses….reports Asian Lite News

The recent actions by the Chinese Communist Party and President Xi Jinping against the big tech, corporates, real estate giants and others have now made the country an unsafe and “dangerous place for fresh investment”, a media report said.

China in recent times announced a large number of crackdowns against private businesses. Experts believe that the actions aimed to placate the domestic audience and to raise the image of Xi Jinping in the country. Analysts call it a strategic move before the March 2022 National People’s Congress, where Xi is widely expected to be confirmed as lifetime chairman, The Wall Street Journal reported on Wednesday.

He has been supported by many top figures in the CCP and country but now the Chinese President needs public support. Xi Jinping hopes to be seen as a strong leader in China by going against billionaires and forcing them to share their spoils. The communist regime got some easy targets as movie icons, Evergrande and others.

Meanwhile, China attacks “foreign forces” for seeking to curb Beijing’s rise. That refrain is constantly pushed by state media and diplomats, as it was in the cases of Hong Kong and Xinjiang. Given the constant political need for enemies to purge, the risks for foreign financial firms are clear, The Wall Street Journal said.

Beijing’s anti-foreign sanctions law enacted in June should ring alarm bells. A failure to comply could land any foreign company in legal problems leading to the confiscation of assets by the state. Now foreign investors must understand that there has been a paradigm shift in Xi’s China. Long gone are the days of pragmatism.

What the Chinese state wants, the Chinese state gets. “We are entering an era of one globe, two systems.” The recent Hong Kong experience taught us that the old days of playing both sides are over. One can operate either within China’s orbit or outside it. For Western firms, straddling both sides will become unsustainable, according to Wall Street Journal. (ANI)

ALSO READ: In wake of troop pullout, China trying to gain leverage on US

Previous Story

Five conditions Taliban must apply to gain legitimacy

Next Story

Human Rights Watch Slams Taliban

Latest from -Top News

Kenyans put president on notice

Kenya’s fifth president became a remarkably unpopular leader barely two years into his presidency after proposing aggressive tax measures that many saw as a betrayal of his campaign promise to support working-class

World Bank grants South Africa a $1.5 bn loan

Deteriorating rail systems, jammed ports and frequent blackouts have hindered vital industries like mining and auto manufacturing in South Africa, contributing to slow economic growth over the last decade in Africa’s most

Judge halts Trump from dismantling USADF

Congress established USADF as an independent agency in 1980, with the mandate to support economic development initiatives in AfricaXXX In a significant legal development, a federal judge in Washington, DC, has temporarily

UAE Takes Part in 3rd BRICS Sherpa Meeting

For the UAE, BRICS provides a valuable platform for dialogue and policy coordination across regions….reports Asian Lite News Saeed Mubarak Al Hajeri, Assistant Minister for Economic and Trade Affairs and the UAE’s

Khamenei Breaks Cover in Tehran

Iran’s Supreme Leader makes first public appearance since conflict with Israel, as mystery over his wartime absence continues. Iran’s Supreme Leader Ayatollah Ali Khamenei made his first public appearance on Saturday since
Go toTop

Don't Miss

China’s new maritime law to spark ‘conflict’ in South China Sea

It gives Beijing the authority to instruct foreign vessels that

Taiwan has no right to join UN: China rejects US call

Blinken had on Tuesday called on United Nations member states