- September 23, 2021
- Posted by: Stratford Team
- Category: Business
China’s push for self-sufficiency in a wide range of industries is dividing foreign companies, with some welcoming it as another chance to invest there while others worry that it will cause risks to the country’s trading partners and its own economy.
Two influential groups of foreign businesses in China issued very different reports on Thursday. They revealed a striking divide on whether international companies support China’s push to replace imports with a self-reliant emphasis on domestic production.
China has been heavily subsidizing its manufacturers of semiconductors, commercial aircraft, electric cars and other products as part of a national effort to achieve greater self reliance. The European Union Chamber of Commerce in China contended in its report on Thursday that these policies were discouraging foreign investment in China. They are also causing China to spend heavily to develop its own versions of products that are more efficiently…