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Foreign companies are not all rushing back to China

Multinationals reassess whether local production and sales are still worthwhile

| China
A Starbucks outlet in Beijing in January 2022: Localization has become more important than ever.   © Reuters

Andrew Cainey is a senior associate fellow with the Royal United Services Institute, a defense and security think tank based in London, and co-author of the new book, "Xiconomics: What China's Dual Circulation Strategy Means for Global Business."

Chinese Vice Premier Liu He's message at this year's World Economic Forum in Davos was clear and simple: "Foreign investments are welcome in China, and the door to China will only open up further."

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