China’s five-year plans have profoundly impacted US businesses – while some American companies have adapted and even profited, US factories have been hit with job losses, lower investment and more closures, according to a US-based scholar.From 2001 to 2020, when Beijing backed an industry under one of its five‑year plans, US factories in the same sector shed about 5 per cent of jobs and around 6 per cent of investment, said Jiang Wei, a finance professor at Emory University. The probability of...