Support us Donald Trump and his entourage of US corporate titans during his trip to Beijing last month. Image: YouTube Screengrab TOKYO — The billionaire CEOs who accompanied US President Donald Trump to Beijing last month are probably feeling some whiplash. Some of that disorientation comes from Trump himself — a president who built two campaigns on confronting China and has since recast himself as an open admirer of Xi Jinping, lurching between hard and soft postures with little warning. But the sharper sting is how quickly Xi’s promises have curdled. His assurances to Trump’s business entourage — that China would “open wider” and offer American firms “broader prospects” — already sound like dispatches from a different era. What was meant to inspire Apple’s Tim Cook, Tesla’s Elon Musk, Nvidia’s Jensen Huang and the other US corporate titans now looks like a head fake. The reality is China is now imposing tighter controls on cross-border capital, a walled-off AI sector and shrinking transparency. That is, less openness, not more, as Xi promised his American guests. No wonder China’s markets are being left in the dust.
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