Zuoji Dong

Jun 19, 2024 | mdpi.com | Haibo Yu |Zuoji Dong |Yubin Huangfu |Yingman Wang

1. IntroductionAmidst U.S.–China trade tensions, rising anti-globalization sentiments, and the global COVID-19 pandemic, the uncertainty surrounding global economic policies has significantly increased [1,2]. China’s economy is concurrently facing formidable challenges, including a notable slowdown in growth, immense pressure to transform industrial structures, and widespread prevalence of high-leverage operations within enterprises [3,4,5].