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The Capital Note: Wall Street Bets Big on China


(Stringer/Reuters)
Welcome to the Capital Note, a newsletter about business, finance, and economics. On the menu today: foreign investment in China, a massive cyberattack, the boost to small banks from PPP, and a new critique of economic theory.
Foreign Investors Pile into China
Early in the COVID-19 pandemic, the developed world seemed ready to wean itself off Chinese exports. The Chinese Communist Party’s obfuscation of the outbreak accentuated the risk of doing business with authoritarian governments, and massive supply-chain disruptions suggested that the global economy had grown too dependent on Chinese exports.
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Governments took note: The Japanese government announced a plan to spend $2 billion incentivizing companies to move facilities out of China, with the U.S. and Western Europe evaluating similar policies. ....

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