For Wall Street itself, that means the hurdle to investing in China has been raised. But there are plenty of investors in other countries who have trillions of dollars of their own to deploy. Capital allocators in New York may feel as if they cannot appear too bullish on China for political reasons. Their peers in Dubai, Geneva and Singapore will not feel the same compunctions. Indeed, American politics may push foreigners towards China even as it keeps Americans out. The Trump administration’s chaotic spending cuts and on-again, off-again tariff promises are a big part of why American markets are in the doldrums.All this presents an opportunity for Chinese policymakers. A recovering economy, a truce between the government and business, and a swell of interest in China’s technological innovation have begun to revive overseas interest. It is early days, and more is to be done. But the opportunity to seal the deal is there—if they wish to take it. ■

For Wall Street itself, that means the hurdle to investing in China has been raised. But there are plenty of investors in other countries who have trillions of dollars of their own to deploy. Capital allocators in New York may feel as if they cannot appear too bullish on China for political reasons. Their peers in Dubai, Geneva and Singapore will not feel the same compunctions. Indeed, American politics may push foreigners towards China even as it keeps Americans out. The Trump administration’s chaotic spending cuts and on-again, off-again tariff promises are a big part of why American markets are in the doldrums.

All this presents an opportunity for Chinese policymakers. A recovering economy, a truce between the government and business, and a swell of interest in China’s technological innovation have begun to revive overseas interest. It is early days, and more is to be done. But the opportunity to seal the deal is there—if they wish to take it. ■