Still, the government’s Covid policy shift and its efforts to reassure foreign investors have not swayed American manufacturers to reconsider exiting China, according to Dan Harris of the law firm Harris Sliwoski.
“They want out of China because they do not believe China is any longer good for business, and they are also worried about China’s relations with the rest of the world,” said Harris, who advises American companies doing business overseas.
Even companies that have profited handsomely in China were trying to reduce their footprint in the country to minimise their risks, he added.
Harris painted a bleak picture next year for foreign entities with China-based manufacturing, saying the country’s immunity to the coronavirus was not strong and that it lacked “good vaccines” for it.