Without the promise of profits, American firms are also becoming less willing to go to bat for China — to reinforce the idea that China's market is crucial to the success of their futures. No demandAfter pandemic lockdowns ended in 2023, the Chinese economy experienced what is known on Wall Street as a "dead cat bounce." What money Chinese consumers are still able to spend is increasingly going to companies that grew up in their home country. Related storiesWhat money Chinese consumers are still able to spend is increasingly going to companies that grew up in their home country. It gives corporations, already under financial pressure as China's economy declines, even less reason to act as interlocutors encouraging stability between Washington and Beijing.

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Persons: Washington —, Xi Jinping, Lee Miller, lockdowns, They're, Xi, Yi Gang, Michael Pettis, Tesla, Elon Musk, it's, Ball, Jamie Dimon, It's, China's, Goldman Sachs, Ray Dalio, seeping, Miller, Kamala Harris, Donald Trump, Harris, —, Trump, Biden, we're, Cordell Hull Organizations: Apple, Nike, Chinese Communist Party, People's Bank of, Carnegie Endowment, China Business Council, Starbucks, Street, Bridgewater Associates, Beijing, East Asia State Department, CCP, Trump, State Department, Republicans, Financial, Broadcom, Nvidia, Biden Administration Locations: China, America, Beijing, Washington, American, South China, Taiwan, People's Bank of China, Shanghai