As U.S. and Chinese Officials Meet, Businesses Temper Their Hopes
Chief executives in the U.S. have long pushed for closer ties between the two countries. Now they just hope a rocky situation won’t get worse.
The report from McKinsey comes as a debate rages over the potential economic effects of A.I.-powered chatbots on labor and the economy.
The economy is open again, helping Alibaba, Baidu and Tencent claw back in the first quarter from a miserable 2022, though they are likely to face continuing skepticism from investors.
As recession fears persist, the troubles in major industries have hurt tax revenues, turning the state’s $100 billion surplus into a deficit.
In a filing on Sunday, China Renaissance Bank said that its C.E.O., Bao Fan, was “cooperating in an investigation” by Chinese authorities.
Ahead of a judicial overhaul that could transform the country and frighten away investors, the executives of Start-Up Nation are mulling an exodus.
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