Most people by now are familiar with the idea of “de-risking” or “decoupling” as the US and EU try to diversify from China in strategic industries.
Less well known is a more subtle form of decoupling that is afflicting corporate China, particularly international businesses in the country — a lack of expatriates.
Foreign companies in China are reporting that the number of expatriates who want to live and work in the world’s second-largest economy is still low compared with before the pandemic and there are few signs that it will fully recover soon.
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