American Businesses in China Most Worried About Global Travel Disruptions
Several companies indicated that thousands of their senior executives have been stranded outside China since the lockdowns were enforced
A report by the American Chamber of Commerce in China reveals several emerging concerns for American businesses operating in China, with global travel disruptions due to the coronavirus pandemic being one of the biggest issues, as noted by 90% of member companies. Several companies indicated that thousands of their senior executives have been stranded outside China since the lockdowns were enforced around the world earlier this year.
Business groups across Europe and the US have been trying to lobby China to ease travel restrictions to let expat executives back into the country. So far, however, China has only permitted some international travelers from South Korea and Germany to return to the country.
Meanwhile, 60% of businesses are looking towards implementing cost cutting measures in the wake of rising uncertainty in the aftermath of the pandemic, including cutting compensations and even cancelling or postponing salary hikes through 2020.
On a positive note, however, ever since China eased its shutdown measures back in April, almost 60% of organisations have restarted normal operations. However, among companies in the resources and industrial sectors, only 25% have managed to restore normal levels of activity while around 50% of manufacturing firms have reached normal levels of operations so far.
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