From Apple to Starbucks, Western firms’ China dreams are dying

Things have never looked rosier for foreign firms in China—at least according to the country’s Council for the Promotion of International Trade. The body, which is controlled by the commerce ministry, claims that 90% of foreign companies rate their experience in China as satisfactory or better. According to a recent survey by the council, foreign firms say the economy is strong, local markets are attractive and their outlook is bright. Following years of isolation during the covid-19 pandemic, China’s government insists that the country is open again for business, and that reforms have made life easier for foreign companies.