US officials said that multinational companies operating in China are facing unprecedented risks as US-China relations crater, supply chains swoon, and hardline nationalism on both sides of the Pacific intensifies. Robert Daly, director of the Wilson Center's Kissinger Institute and a former US diplomat in Beijing, said another major risk is the risk of a catastrophic collapse in US-China relations. Craig Allen, president of the US-China Business Council and a former US diplomat in China, also said that political risk has become the most important factor, mainly the interaction between the two governments that is increasingly adversarial, aggressive, and hostile. Punitive trade sanctions, many imposed under the administration of former President Donald Trump, now affect some 1,100 Chinese companies.
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