China business veteran Shaun Rein discusses with Cyrus Janssen how China has faced challenges since it opened up post-Corona. Outbound travel has not resumed, expected revenge spending did not happen and consumer confidence is at the lowest rate ever. No, he says, China is not yet back to normal, because consumers sit on their corona savings, unwilling to spend. And foreign investors, while CEOs are going to China, are hesitant to resume investing in China, at least till the end of 2023. But support for Xi Jinping is still there, he sees. Though, expect a tough 10-20 years.
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