How does ' throwing eggs' help new investment in China? Executive order of Joe Biden gets sidelined
card game is helping investment agencies in China stay afloat as US investment towards the world's second-largest economy led by President Xi Jinping, keeps falling through the cracks due to a recent executive order by current US President Joe Biden.
The executive order signed by US Prez Biden back in August 2023, restricts American investment in China in significant sectors including artificial intelligence, quantum computing and other technology-based services. This has led to a void for Chinese companies and investment agencies as they are looking at raising funds to keep themselves afloat as the US investments keep pulling out. However, card game, Guandan, also known as 'throwing eggs' has come to the rescue of the Chinese, according to an NBC report.
Chinese investment?
Guandan is a card game played by affluent provinces and cities of China, local financers are learning the game and playing it with their potential clients who play the game as a pastime. This shows massive effort from Chinese investors as US funds keep pulling out of the Chinese investing game, according to reports. China still has not recovered yet from the massive lockdown due to the coronavirus for around three years and the executive order by Biden has made things complicated for them.
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Learning the local card game Guandan and playing it can be considered a social activity and will help woo clients towards local investment.
Playing Guandan
The basic concept of Guandan is to team up
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