US Based Private Enterprises Are Desperate Increasing Business Volume in China
America is imposing broad crackdown on the non-government organizations after the impact on America-China relationship issue. However, as per Ian Bremmer, there’s no such symptom that ensures that private enterprises have taken it seriously.
In fact, as per the Euracia Group President, he was in constant touch with the American giant companies who have presence in the Chinese market about their plan after the new restrictions imposed by the American Government; and he confirmed that most of these private enterprises are planning the opposite. As per a CEO of an American company, “to survive after this pandemic situation, they can’t deny any business opportunity, especially when it is from the world’s 2nd largest economy.”
As per Bremmer, there is no surprise in this, as every business wants to make their space in a steadily growing marketplace and being China on its track even during this pandemic situation, there can’t be any better place than this for these private companies.
This is one of the biggest reasons, even the International Monetary Fund assumes that by 2030 China can be worlds largest economy leaving US in the backfoot and every multinational company is trying to take advantage of this situation well beforehand.
On last 7th January 2022, American President Joe Biden has signed a law restricting import of products from Xinjiang area where they have raised the issue of genocide in the area.
So, both America and China has slowed down their investment in the countries which has created an unpredictable environment for the future of multinational businesses. However, considering the rapid growth of Chinese economy, western companies are participating more actively in China to generate more revenue. Now, time will say what will be the future of these brands and how China and America will handle their economical turmoil to overcome the losses and bring them as a superpower.