Foreign business urges China to change course on Covid
CNN
Groups representing Western businesses in China are urging Beijing to relax its approach to Covid, saying harsh lockdowns are damaging earnings and investment and forcing a growing number of companies to consider shifting operations out of the world's second biggest economy.
Over 50% of American businesses have either delayed or decreased investments in China as a result of the recent Covid outbreak, according to a survey published Monday by the American Chamber of Commerce in China.
The survey — which was conducted from April 29 to May 5 with 121 member companies participating — also detailed the impact of Shanghai's lockdown on American firms. The city is China's financial hub and has been under a lockdown since the end of March.
President Joe Biden warned against a streak of “semi-isolationism” in the US as he stressed the importance of alliances during a symbolic visit to the Aisne-Marne American Cemetery on Sunday, honoring the thousands of Americans who died in World War I at a site former President Donald Trump skipped during a 2018 visit to Paris.
Looking to shore up Latino votes in Nevada and Arizona for his reelection campaign, President Joe Biden is on the verge of soon following up last week’s executive action aimed at curbing border crossings with another move focused on providing legal status for long-term undocumented immigrants married to American citizens and without criminal records.