AmCham Shanghai president says US-China ties now second-biggest challenge for firms in China

The reordering is the signal: geopolitics has not disappeared, it has been displaced by domestic competitive pressure as the binding constraint on foreign firms in China. That reframes the policy ask — predictability on trade and export controls is now framed as uncertainty reduction rather than market access, a narrower and more achievable target. Whether that framing gains traction in Washington and Beijing is the open question.