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From Apple to Starbucks, Western firms’ China dreams are dying

LivemintLivemint · 13d
From Apple to Starbucks, Western firms’ China dreams are dying

Foreign companies in China are increasingly facing challenges and struggling to maintain their business operations. The Council for the Promotion of International Trade claims that 90% of foreign firms rate their experience in China as satisfactory or better, but many executives express concerns about investing in the country and are considering downsizing their operations. Sales of listed American and European companies in China have declined, and companies like General Motors, Apple, Volkswagen, and Starbucks are witnessing shrinking sales and tough competition from Chinese rivals. Economic stagnation, oversupply, technological advancements by Chinese companies, and geopolitical tensions are some of the factors contributing to the difficulties faced by Western companies in China.

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