“You have to take care of employees and society, and then you can take care of your investors,” Schaefer said. “That’s really the message now.” The lost value for Ma’s properties of more than $US850 billion ($1.3 trillion) is a sign of how difficult it will be to rebuild trust with international investors. Not only have corporate profits come under pressure as economic growth slowed, but national priorities have shifted in fundamental ways. China’s economic woes are now multiplying, putting pressure on Xi to rebuild support in the private sector. In a downside scenario – with a sharper property slump,...