China's Stock Market Struggles as Investor Confidence Wanes

Chinese President Xi Jinping's meeting with US President Joe Biden fails to address concerns of US curbs on chip exports and tariffs. Beijing's crackdown on brokerages and infusion of $475 billion into the economy do little to regain investor confidence. Foreign investors are becoming increasingly wary of investing in China, with FDI turning negative for the first time since 1998. Vanguard plans to close its Shanghai office after December 2023.