China is investing less and less in Western companies and is increasingly choosing to invest in Southeast Asian factories, mining and energy projects in Asia, South America and the Middle East.
The Wall Street Journal published an article with relevant content.
The U.S. Enterprise Institute named nickel-rich Indonesia as the largest recipient of Chinese investment this year. As noted, nickel is a key component of many batteries used to power electric vehicles.
The publication emphasizes that China is showing a reaction to deteriorating political relations with the West, led by the US, by strengthening trade and investment ties with other countries.
Experts also explained that China's direct overseas investment in global markets fell 18% year-on-year in 2022.