Posted 2/19/2024, 2:31:05 PM
Foreign Investment in China Dries Up as COVID Curbs and Property Woes Batter Economy
- Foreign direct investment in China grew just $33 billion in 2022, the smallest expansion since 1993
- China's zero-COVID policies and property slump have slowed growth to its lowest in decades
- Tensions between China and the West have also dampened investment and economic ties
- China's Premier Li Keqiang has urged officials to boost confidence and take action to stabilize growth
- While domestic travel boomed over the New Year holiday, consumer spending remains below pre-pandemic levels
