Doing Business in China

As President Trump seeks to cut the US trade deficit with China, Martin Wolf explains what it will take for the Chinese to build a mass consumer market. Shenzhen’s tech trailblazers are anxious about rising property prices. Foreign manufacturers welcome the crackdown on copycats but are ambivalent about Trump’s trade bluster

Increasingly wealthy Chinese go upmarket in consumer spending
Local businesses steal march on multinationals that fail to notice market shift
China: being a toy making powerhouse is no longer child’s play
Rising wages, faster product cycles and ageing workforce squeeze margins
Foreign business in China fears US trade blowback
Promises to liberalise markets are less than they seem, but retaliation is real risk
Shenzhen’s tech innovation hothouse overheats
Rising costs dent the city’s appeal and force some companies to relocate
Chinese courts curb IP theft as US sees bigger threat
Trump administration focuses on Chinese innovation-led growth strategy
Consumption to replace investment as key to China growth
Catching up with US will depend on continued ‘opening up’ and avoiding big upheavals