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Since the global economic recession began, China has been touted as one of the strongest economies in the world. But as the Chinese regime struggles to keep growth going while keeping a tight reign on inflation, multinational corporations are beginning to have doubts about the future of their businesses in China.
As the Chinese regime adopts new policies to stimulate growth in the face of a shrinking economy, multinational corporations are thinking twice about the world's second largest economy.
According to a report by Reuters, a survey released on Wednesday by the Economist Intelligence Unit showed a decrease in confidence in China's place in the global economy. In a similar 2004 survey, 53% of corporations said China was "critical to global strategy." Now that number has fallen to 37%.
Economic downturns in Europe and the United States have dried up much of the export market China relied on. And with other emerging markets in Brazil, India, Indonesia and Vietnam, corporations feel like they have other options.
Also hampering confidence in the Chinese market is the Chinese regime's policies toward intellectual property. The regime has been accused of launching coordinated cyber attacks to steal industry secrets of corporations around the world.
In September, US Secretary of the Treasury Timothy Geithner slammed China for continued intellectual property theft.
"They have made possible systematic stealing of intellectual property of American companies and have not been very aggressive to put in place the basic protections for property rights that every serious economy needs over time."