Randal Phillips is founder and president of HFBB Associates, a strategic consultancy on China and Asia issues. Until recently Randy also served as managing partner for Asia of the Mintz Group, managing the group’s activities across Asia. He spent 28 years with the Central Intelligence Agency's Directorate of Operations, most recently serving as the chief CIA representative in China and has an extensive background in foreign field operations, policy and program management, and leadership development.

Yeah I don't think these are just "suspicions"

Bain & Co, Mintz Group, and Captivision are among the US firms raided

I don't disbelieve it, but I'm gonna wait to read about it not in the daily mail and I don't think other serious sources have reported on it yet, unless google has just ceased working as a search engine which is very possible.

Literally "ex" cia being arrested on suspicion of espionage

Maybe shouldn't have worked for the literal fucking cia, perhaps the most concentratedly evil organization on earth at the moment.

Wow this article is a masterpiece of propaganda and disinformation. It doesn't mention anything about the fact that some of those arrested have literal backgrounds working for the CIA. Then it claims that China is getting less foreign investment by saying the NET inflow and outflow is only 33 Billion dollars. Here's the thing, China has been investing heavily in foreign countries like Mexico and Vietnam. So much so that Chinese factories in Mexico are shipping more to USA than China which has recently made Mexico USA's largest exporter.

So, by obfuscating information, they're claiming China is getting less FDI, but wait:

https://www.reuters.com/markets/german-investment-china-rises-new-record-high-2024-02-14/

Germany is having record high investments in China, what's going on?

Well it's easy, they're trying to claim net not total. If I used to make 50 from inflow last year and now make 100 this year but now I'm also spending 80 my "net" went from 100 to 20. I LOST 60%!!!!

Like I said, effective way to obfuscate the data. Love it

@nekandro I worry about everyone I know who still lives in China

This is the best summary I could come up with:

US ambassador Nicholas Burns revealed the figure in an interview with 60 Minutes that aired on Sunday, highlighting a troubling trend for Americans who want to do business in China.

China last year launched a crackdown on US consultancy and due diligence firms, a move business lobbies have said unnerved foreign investors in the world's second-largest economy.

China expanded its counter-espionage law in July, much to the alarm of the United States, with wide-ranging updates including banning the transfer of any information related to national security and broadening the definition of spying.

'It's written in such a general way that it could be that American business people could be accused of espionage for engaging in practices that are perfectly legal and acceptable everywhere else in the world,' Burns said of the new counter-espionage law.

Last year, China's Ministry of State Security also called on its citizens to join counter-espionage work, creating tip lines for individuals to report suspicious activity and promising to commend and reward them.

The crackdown on purported spying has badly dented foreign investment in China, which the country sorely needs as its economy continues to lag following years of disruptions from harsh pandemic lockdowns.

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