For over a decade, manufacturer Matsutek plied away at building its business with big Western brands, supplying firms such as Philips and Honeywell with products made in its Chinese factories for the US and other overseas markets.
China’s overseas investment growth will likely slow or even decline in the next few years, as geopolitical and economic risks around the world increase, according to credit rating agency, Moody’s Investors Service.
The Chinese yuan fell to its lowest level against the dollar since August 2010 in morning trade on Monday, fueling speculation that Beijing is allowing currency depreciation to counter threatened US tariffs.
US Secretary of State Mike Pompeo has accused China of being engaged in “coercion” of its Southeast Asian neighbors in disputes over the South China Sea and criticized its building a dam on the Mekong River.
A group of US lawmakers in Congress have introduced legislation that would force Chinese companies listed on US stock exchanges to submit to regulatory oversight, a process that is restricted by Chinese law.