Since March 2023, the actions of the Chinese government have commanded global attention. The arrest of five employees from the corporate due diligence company Mintz Group, questioning faced by management consulting firm Bain & Company in Shanghai, and an unexpected raid on information services provider Capvision in Suzhou have put consulting firms in China under unprecedented scrutiny. This series of high-profile events has prompted deep reflection on Wall Street, leading them to reconsider their past perceptions of China and President Xi Jinping. Gradually, they have come to realise they may have misjudged the situation.
The focus of Xi Jinping on personal power control, at the cost of China's economic development, has posed a danger not just to China but globally. The business environment in China is rapidly deteriorating, making it difficult for Wall Street to profit in this $60 trillion financial market. At this juncture, the Chinese Communist Party and Xi's proxies have dispatched numerous emissaries to Wall Street, hoping they will continue to invest in China.
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