China’s documented global investment shrank modestly in the first half of 2024. Auto and parts production led. However, the dollar value of construction activity surged year over year, topped by building power plants and refineries.
The Chinese Ministry of Commerce reports only good news for investment. Its post-COVID numbers are nearing the 2015?16 peak, which saw controversy around the world. There is no new controversy, suggesting investment is different now―likely stuck in offshore financial centers.
Chinese investment in the US was tiny in the first half of 2024. There are no equivalent figures for American investment in China and no sense of how much money supported Chinese technology or supply chains. Without this knowledge, the US cannot properly compete.