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Foreign Companies Bail Out of China’s Tottering Economy

 Foreign companies are increasingly withdrawing from China's struggling economy, showing a lack of confidence in the government's ability to stabilize the market.

• Recent reports indicate that major firms, including the U. S. law firm Cleary Gottlieb Steen & Hamilton and a BlackRock fund, are exiting China.

• Cleary Gottlieb plans to close its Beijing office, while BlackRock forfeited two office towers in Shanghai after failing to repay a significant loan.

• Many law firms and real estate developers are leading this departure due to declining profits, which have decreased by nearly 18% over the past three years.

• Foreign firms worry they cannot compete with domestic companies that receive favorable treatment from the Chinese government.

• The availability of office space in major cities like Beijing has surged as a result of this exodus, with reports showing over 20% vacancy rates.

• In Shanghai, vacancy rates are similarly high, with many cities surpassing a critical threshold of 20%.

• While Middle Eastern firms are moving into some of the vacated spaces, they currently lack the capacity to fully replace the Western companies leaving China.

• The Chinese Ministry of Commerce has introduced a twenty-point action plan to attract foreign investment again, but its effectiveness remains uncertain.

• A recent report revealed a dramatic drop in foreign direct investment (FDI) by $168 billion in 2024, marking the largest decline since 1990.

The significant withdrawal of foreign companies from China highlights serious concerns about the country's economic stability and the continued attractiveness of its markets to international businesses. As the situation evolves, it remains to be seen how both the Chinese government and incoming foreign firms will respond to these challenges. 

https://www.breitbart.com/asia/2025/02/25/foreign-companies-bail-out-of-chinas-tottering-economy/

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