Xi closes the door after promising US CEOs to open wider
Chinese President Xi Jinping's recent actions have contradicted his earlier promises to US CEOs regarding increased openness in China's market. Instead of expanding opportunities, China is tightening controls on capital and restricting AI sector access. This shift has left US business leaders feeling disillusioned and has raised concerns about China's economic trajectory.
- ▪Xi Jinping's assurances to US CEOs about opening China's market have quickly deteriorated.
- ▪China is imposing stricter controls on cross-border capital and limiting access to its AI sector.
- ▪The CSI 300 index has underperformed compared to other Asian markets, reflecting investor concerns.
Opening excerpt (first ~120 words) tap to expand
TOKYO — The billionaire CEOs who accompanied US President Donald Trump to Beijing last month are probably feeling some whiplash. Some of that disorientation comes from Trump himself — a president who built two campaigns on confronting China and has since recast himself as an open admirer of Xi Jinping, lurching between hard and soft postures with little warning. But the sharper sting is how quickly Xi’s promises have curdled. His assurances to Trump’s business entourage — that China would “open wider” and offer American firms “broader prospects” — already sound like dispatches from a different era. What was meant to inspire Apple’s Tim Cook, Tesla’s Elon Musk, Nvidia’s Jensen Huang and the other US corporate titans now looks like a head fake.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Asia Times.
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