China's Charm Offensive in Davos to Woo Investors Falls Short, Analysts Say
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China's Premier Li Qiang led a delegation of 140 people to the World Economic Forum in Davos to reassure investors of China's economic potential and reliability. However, analysts say Li's speech lacked specific measures to address concerns and attract Western companies. China's economy has been struggling with a property market downturn, high youth unemployment, and a drop in exports. In 2023, China recorded its first quarterly foreign direct investment deficit since 1998. Despite these challenges, Li emphasized China's long-term positive trend and commitment to opening its doors wider to the world. However, trade groups report a shift away from investment in China due to tightened political controls. CEOs of multinational companies with operations in China are losing confidence, with expectations of decreased capital investments and layoffs. While Li emphasized China's openness, President Xi Jinping emphasized the primacy of the Chinese Communist Party. Economists surveyed by the World Economic Forum anticipate only moderate expansion in China's economy this year.
#China #Davos #Investors #Economy #Speech #ForeignDirectInvestment #XiJinping
https://www.voanews.com/a/china-charm-offensive-in-davos-to-woo-investors-falls-short-analysts-say/7444405.html
Voice of America - VOA News /
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2024-01-17 23:28:01
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2024-01-17 23:28:01Event JSON
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"content": "China's Charm Offensive in Davos to Woo Investors Falls Short, Analysts Say\n==========\n\nChina's Premier Li Qiang led a delegation of 140 people to the World Economic Forum in Davos to reassure investors of China's economic potential and reliability. However, analysts say Li's speech lacked specific measures to address concerns and attract Western companies. China's economy has been struggling with a property market downturn, high youth unemployment, and a drop in exports. In 2023, China recorded its first quarterly foreign direct investment deficit since 1998. Despite these challenges, Li emphasized China's long-term positive trend and commitment to opening its doors wider to the world. However, trade groups report a shift away from investment in China due to tightened political controls. CEOs of multinational companies with operations in China are losing confidence, with expectations of decreased capital investments and layoffs. While Li emphasized China's openness, President Xi Jinping emphasized the primacy of the Chinese Communist Party. Economists surveyed by the World Economic Forum anticipate only moderate expansion in China's economy this year.\n\n#China #Davos #Investors #Economy #Speech #ForeignDirectInvestment #XiJinping \n\nhttps://www.voanews.com/a/china-charm-offensive-in-davos-to-woo-investors-falls-short-analysts-say/7444405.html",
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