Commentary
Twelve years ago, China was one of the fastest-rising economies. Beijing welcomed foreigners, and foreign employees were excited to be working there. Now, the country is losing its appeal.
Growth is plateauing. COVID-19 recovery is slowing the economy. And a lot of the foreigners and companies that left because of the lockdowns are not coming back. Those who want to return are finding that visa offices outside of China have only recently gotten back to full capacity, and the system remains overloaded and slow.
“Every single one of our clients would like to stop manufacturing in China. … There’s a million reasons why it’s just not that easy,” said Dan Harris in August 2022. He is a founder of the law firm Harris Bricken, which advises American companies doing business overseas….