For several decades until last year, China was regarded as the workshop of the world. Businessmen and women flocked there to have the production of computers, fashionable clothing, electro-domestics and toys undertaken in an increasingly welcome business environment. It is a megatrend that is rapidly changing. It is not only the severe lockdowns to combat Covid-19 that have changed the mood. There has also been a slump in the housing market, with property companies over-stretched financially, and a crackdown on hi-tech companies such as Alibaba that were becoming too powerful. And while global foreign direct investment in China hit a record high in 2021 – according to the United Nations Conference on Trade and Development Investment Trends Monitor – foreign fund managers are now viewing such changes with dismay. And the flow of capital from the West into China has gone into reverse… This post is an excerpt of the Tecnon OrbiChem white paper: Retreat of Western investmen...