As the Sino-US conflict spreads from trade to telecoms and academia, US investors in China are trapped in the middle. The country is losing its attraction for them.

“Foreign companies have seen their prospects in certain industries narrowed because of China’s own goals for Chinese companies to take a certain market share in domestic markets,” said Tim Stratford, chairman of the American Chamber of Commerce (AmCham) in China. “They have felt less enthusiastic about the opportunity to invest here.”

Last week AmCham set out its concern in a white paper on the business climate in China.