De-risking China policy, Silicon Valley and Wall Street are doing the opposite I

Elon Musk is once again the world’s richest person, the media reported on 3 June 2023. The Richest man just wrapped up his trip to China on Thursday after meeting with China’s top officers and visiting Tesla’s Gigafactory. The meeting highlighted that he has a close relationship with top Chinese politicians.

While visiting China, he stopped tweeting for over 48 hours due to the firewall in China. According to CNBC, a statement from China’s foreign ministry, Qin Gang, said Musk praised the Chinese people and China’s achievements. Tesla opposes “decoupling” and is willing to continue to expand its business in China.

After the G7 summit, even though, the world leaders are asking businesses to “de-risking” China. It seems that for tech companies and Wall Street are doing the opposite.

Before Elon Musk visited China, JP Morgan’s Jamie Dimon was in Shanghai for a series of JPMorgan conferences. According to Bloomberg on 31 May 2023, Dimon said during aired interview, “it won’t be a decoupling, and the world will go on.” He will be in China in both good and bad times, remaining committed to doing business in the Communist Party-ruled nation as political tensions grow.