"The crackdown on purported spying has badly dented foreign investment in China, which the country sorely needs as its economy continues to lag following years of disruptions from harsh pandemic lockdowns.

Last year, China's foreign direct investment plunged 82 percent to $33 billion on a net basis in 2023, according to the country's State Administration of Foreign Exchange.

It marked the lowest level of investment in China by foreign companies in 30 years, and outflows exceeded inflows by $17.5 billion in the fourth quarter, marking the first net outflow on record."

China has raided seven American businesses in Beijing and arrested employees on suspicion of espionage, ambassador Nicholas Burns reveals (msn.com)

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