Name: Swiss Billionaire: Reduce Dependence on China
Uploaded: 2023-11-30T04:33:00.000Z
Description: Foreign investments in China hitting a historical low. What are foreign financial firms operating in China facing right now? And how are they dealing with those challenges?

Tiffany Meier is an anchor, China news investigative reporter, and producer for NTD News based at the network's global headquarters in New York City. Tiffany anchors NTD's flagship shows "NTD Evening News" and "China in Focus" and co-moderates NTD's special election coverage "The Nation Decides." She produced the award-winning NTD Original documentary "Hollywood Takeover: China's Control in the Film Industry."


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Foreign investments in China hitting a historical low. What are foreign financial firms operating in China facing right now? And how are they dealing with those challenges?

Urs Wietlisbach, co-founder of Swiss private equity giant Partners Group, told Bloomberg he's mostly concerned about Taiwan and the potential for war to break out with China. For him, China's invasion is "not a question of if, it’s a question of when and how.”

Partners Group told companies it invested in: "Make sure that you’re not too dependent on China."

More than one-tenth of his company's investments focus on Asia. The firm has an office in Shanghai, but is looking to diversify its investments to other Asian countries, like Thailand and Vietnam.
<h2>Goldman Sachs Ends ‘Growth at All Costs’ China Strategy</h2>
For Goldman Sachs, the biggest concern is the tensions between Washington and Beijing. Chief executive David Solomon told the Financial Times that he believes the tensions could last for years. Noting they come down to what he called "real differences" between the two countries.

Because of it -- the investment bank has started moving away from its aggressive approach to grab market share in China --- a strategy called “growth at all costs.”

Goldman Sachs was one of the earliest financial institutes to set foot in China. It opened its first office there 30 years ago. (1994)
<h2>Chinese Law Firms Expand Amid Wealth Outflow</h2>
Geopolitical tensions are benefiting one sector in China: Law firms.

Hundreds of billions of dollars have been moved out of China this year.

As concerns rise, wealthy Chinese are looking to protect their assets. To do it -- many are buying up houses, apartments, stocks, or other financial products. Some Chinese law firms have likewise expanded beyond China's border -- to better provide them with legal services.

Looking to capitalize on that profit potential -- Chinese regulators are reportedly telling some large companies to end their partnerships with foreign law firms --advising them to work with domestic ones instead.

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