[CC may contain inaccuracies] One day without foreign investors, we'll be buying into those assurances from the president himself.
Yeah. Everybody that I've been talking to here
in Tianjin at the World Economic Forum summer Davos says words are fine, words
are good, and that's what we got from Li Chung, the premier, yesterday in the
keynote opening speech. Now, it's going to have to translate
into action both on the part of a more welcoming regulatory framework in China,
but also by companies an
d governments abroad who say, all right, the deal risk
in China has happened and we can now maybe more safely go into China as FDI
had fallen, of course, in the beginning part of this year on a number of
different risks. The U.S.
talks about deep risking its supply chain, obviously from China.
But companies that was the pitch Li Chung made yesterday to leaders of
companies that come here. Some fifteen hundred attendees, both
domestic as well as foreign, that China is open for business and wants
to
attract and is a welcome place for their investment.
Again, we'll have to see how this translate.
But this story about a chip restrictions that's coming from The Wall Street
Journal from sources, that would be another headwind.
I talked to Victor Chu earlier today. He is the first Eastern chairman, one of
the first, if not the first, international private equity groups to
launch in China back in the 1980s. He says there's a few main elephants in
the room here in his private conversations behi
nd closed doors.
One is the frayed U.S. China relationship at the top of
everyone's list, but also that war in Ukraine and the issues with Russia.
It's not talked a lot about, though, here openly because of the
sensitivities. One company, though, who's welcoming a
resurgent Chinese economy, if it does indeed come back, is Eurasia Resources
Group, their Kazakh based because they have sanctions, because they can't sell
iron ore into Russia. I'd say Russia thinks it's not
Kazakhstan sanctions. They
are relying more on the Chinese
economy. So any stimulus that comes out of here
and many any rhetoric saying we're open for business is good for a big mining
company in a neighboring country that can't do business with Russia is
welcoming that investment in China.
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