Uncertainty and “draconian regulations” have drastically raised risks for foreign businesses in China, according to a report by a European business group. The lengthy paper published by the European Union Chamber of Commerce in China on Wednesday urges China’s leaders to do more to address concerns that it says have “grown exponentially” in recent years. “This report comes at a time when the global business environment is becoming increasingly politicized, and companies are having to make some very tough decisions about how, or in some cases if, they can continue to engage with the Chinese mar…