Summers Says Foreign Investors Should Feel ‘Anxiety’ About China
- China is pursuing a regulatory clampdown across industries
- Summers says riskier environment means push for higher returns
This article is for subscribers only.
Former U.S. Treasury Secretary Lawrence Summers said China’s markets are a “riskier environment” for investors as the government intensifies its regulatory clampdown across industries.
China under President Xi Jinping has been cracking down on its most powerful tech stars, including Alibaba Group Holding Ltd., Tencent Holdings Ltd. and Didi Global Inc., helping ensure its grip on society. The government is also moving to address consumer worries about the gradual erosion of their privacy as tech companies make rapid advances in the use of tools from facial recognition to big data.