China's economic conditions are worse than thought, Desmond Shum told The New York Times.
This will result in tighter control of the firms by Beijing, as it become less secure.
These factors have already caused Beijing to acro, with the People's Bank of China implementing interest rate cuts to reignite economic activity.
But in Shum's view, conditions are also making the country's top brass insecure, resulting in tighter control of the nation's business landscape, especially among foreign firms.
"People talk about 'deglobalization,' but the proper term is 'reglobalization minus China,'" Shum said.
Persons:
Desmond Shum, Desmond Shum —, I've, Shum
Organizations:
New York Times, Service, People's Bank of China
Locations:
Beijing, Wall, Silicon, China, acro, Vietnam, Indonesia, Sri Lanka, India