Amid tighter US and European markets, diversification and localisation can minimise risks, Le Yucheng tells annual forum.

Chinese businesses should pivot their attention to the “rising” Global South such as Africa and the Middle East while minimising foreign investment risks through localisation, according to a former senior diplomat. Le Yucheng, who was a Chinese foreign vice-minister from 2018 to 2022, offered the assessment on Wednesday at the Hongqiao International Economic Forum in Shanghai, held as part of the China International Import Expo (CIIE), one of the world’s largest trade fairs. The annual six-day…

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