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Foreign enterprises in China are re-assessing their China strategy in face of both stringent covid policies and decoupling trends. The statistics on their business performance, as given by the National Bureau of Statistics, underline that they have reasons to be worried. Foreign companies in China have recorded low revenue growth in 2022 year-to-date compared to the same period last year. Further, their operating profitability decreased from the high point in 2021.
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The Baltic exit from China's Cooperation Initiative in Eastern and Central Europe became a reality last week. Latvia and Estonia followed Lithuania and announced their withdrawal from the 16+1 format. Is this the beginning of the end for the remaining 14+1 format?
By Amelie Richter
