U.S. biz optimism on China outlook falls to record low

Transcript

00:00 Meanwhile, a survey conducted by the American Chamber of Commerce in Shanghai revealed that

00:05 political tensions and a slowing economy in China are causing a decline in confidence

00:11 among US businesses operating in the country.

00:14 The survey showed that the number of companies optimistic about their five-year outlook in

00:19 China has reached a record low of 52 percent.

00:23 This is the lowest level of optimism reported since the survey was first introduced in 1999.

00:29 Tensions between the US and China, as well as concerns about the transparency of China's

00:35 regulatory environment, were cited as major challenges by the surveyed companies.

00:41 Additionally, the survey highlighted that many companies are redirecting or planning

00:47 to redirect their investments from China to Southeast Asian countries such as India, Mexico,

00:53 Vietnam and Malaysia.

00:54 [MUSIC PLAYING]