China, through its own behavior in situations like these, makes its own market less attractive for companies and investors, though. You'd have to be crazy to see what is going on right now, and go all-in in with the market in China. The arbitrary power of the CPC over market access is a huge liability.

Big companies may still want to do business in China, but they need stronger footholds in other markets to offset the risk.

Things aren't so black and white behind the scenes. Whether or not a boycott is "minuscule" isn't measured in dollars, it's how the brand is perceived and the second-order effects that perception creates.