There are also a few recent developments that should frighten any foreign companies that are still operating in China
- China's government's unprecedented and nationally coordinated audit on Foxconn's taxes and real estates in China. You could say that it is politically motivated, given the ceo of Foxconn was at one point running for president in Taiwan. However, he has since stepped out of the race, yet the audit is still ongoing. No doubt this has scared many Taiwanese firms to quickly move out of China, since this is just part of recent trend to try to squeeze money out of any capitalists (foreign or homegrown) since China is very very broke. (no, their now dwindling $800B dollar reserves is smaller than the dollar debt they owe abroad)
- Russia's recent nationalization of foreign company assets. Being that China is allied with Russia in war against Europe and US, supplying Russia, and has the same dictatorship quality, it is very likely China will walk down the same path of nationalizing Apple's assets
- China's government's unprecedented and nationally coordinated audit on Foxconn's taxes and real estates in China. You could say that it is politically motivated, given the ceo of Foxconn was at one point running for president in Taiwan. However, he has since stepped out of the race, yet the audit is still ongoing. No doubt this has scared many Taiwanese firms to quickly move out of China, since this is just part of recent trend to try to squeeze money out of any capitalists (foreign or homegrown) since China is very very broke. (no, their now dwindling $800B dollar reserves is smaller than the dollar debt they owe abroad)
- a ton of recent arrest and prevention of foreign executives from leaving China. For example Japanese https://www.reuters.com/world/asia-pacific/how-an-executives... and American https://www.nytimes.com/2023/03/24/business/china-business-c.... This has prompted many companies to pull their employees out of China. Recently Moody downgraded China's rating, and Moody issued warnings to its employees in China https://www.businessinsider.com/moodys-staff-in-china-wfh-du...
- Russia's recent nationalization of foreign company assets. Being that China is allied with Russia in war against Europe and US, supplying Russia, and has the same dictatorship quality, it is very likely China will walk down the same path of nationalizing Apple's assets