Read this in The Manila Times digital edition.

SHANGHAI, China ― Political tensions, China's slowing economic growth and fierce domestic competition are sapping the confidence of US businesses in the country, with optimism about their five-year outlook falling to a record low, a survey showed.

Only 47 percent of US firms were optimistic about their five-year China business outlook, a drop of 5 percentage points from last year, according to the survey published on Thursday by the American Chamber of Commerce in Shanghai.

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