China has increased the difficulties of foreign companies
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According to Nikkei Asia, the leaders of the two largest organizations of foreign companies in China said that this law was made in haste. This will further shake the trust of foreign companies in China. The increasing tension between the US and China has already increased the difficulties of the companies. Jens Eskelund, President of the European Union Chamber of Commerce, said what else do we have to follow. What is state secret? What information should we not have? The difficulties of the companies have increased due to this law. Already they are facing laws like Data Security Act and National Security Act.
bad condition of economy
Michael Hart, President of the American Chamber of Commerce in India, said that US companies want to follow the laws. But if normal business activity also comes under the purview of the law, it will be difficult. International law firm Morgan Lewis said in its report in May that the conditions for identifying the suspects were unclear. This will create a situation of uncertainty for the companies. China’s economy is trying to come out of the impact of the Kovid epidemic. The government has cut interest rates to increase business activity. The government is hoping that this will increase consumption. Real estate sales have declined in the first five months of the year.
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