Business confidence is also at an all-time low. Only 47% of respondents said they were optimistic about their business outlook in China over the next five years. This drop in confidence reflects rising concerns about the strained relationship between the U.S. and China.
Eric Zheng, president of AmCham Shanghai, highlighted the challenges American companies face. "The perceived risks of doing business in China have increased significantly," he said at a news conference. "At the same time, the market is slowing down, with soft demand and overcapacity."
