Foreign companies face a reckoning in China as the risks of staying are generating diminishing returns.
Illustration by Valeria Petrone
In a call that lasted just three minutes this August, executives at tech giant IBM told employees it was shutting its research and development operations in China — closing two labs and cutting more than 1,000 jobs.
“It’s the end of an era,” an IT specialist who had spent 18 years at the company wrote on the social media platform Xiaohongshu in late October.
The layoffs at IBM, which first entered China in 1984, are part of a wider trend of multinationals across sectors pulli
Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else.
A weekly curated reading list on China from Andrew Peaple.
A daily roundup of China finance, business and economics headlines.
We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.
The former Chinese premier’s willingness to communicate made him popular with foreign leaders, but his reforms mainly helped to strengthen Beijing’s control.
California-based Jupiter Systems sold high-tech wall screens to U.S. military and government clients. On June 14, The Wire China revealed how Jupiter was sold to a Chinese company in 2020 without the first Trump administration’s...
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
