U.S. Firms See Record-Low Profits in China: Report

U.S. companies in China are seeing record-low profits as geopolitical tensions and a slowing Chinese economy take their toll.According to a report released Thursday by the American Chamber of Commerce (AmCham) in Shanghai, only 66% of American firms in China were profitable in 2023. This is the lowest level recorded in the survey's 20-year history.Business confidence is also at an all-time low.