"Red alerts should be going off in all boardrooms right now about risks in China" – better late than never, I suppose. Strong argument to be made that any foreign business with operations there at this point is both at local risk, and also in their home jurisdiction. If someone in the US brings a shareholder derivative lawsuit today about losses incurred / IP stolen / etc. in China, it's getting increasingly hard as a defense to simply say that you couldn't see it coming.