China’s factories once made products for the rest of the world. These days, increasingly, Chinese factories make products for China as well. Its vast and still-emerging consumer class has opened up a hugely profitable market for global companies like Apple, Nike, General Motors and Volkswagen. Those companies in turn use Chinese factories to meet those needs.
Today, China’s consumers have grown more reluctant to spend, and many of the workers who depend on them have been hit. Lower demand for consumer goods has led to job losses and shrinking paychecks. That is worsening China’s economic slowdown, which has posed a major challenge for Beijing and could put it at a disadvantagein the trade war with President Trump.
Today, China’s consumers have grown more reluctant to spend, and many of the workers who depend on them have been hit. Lower demand for consumer goods has led to job losses and shrinking paychecks. That is worsening China’s economic slowdown, which has posed a major challenge for Beijing and could put it at a disadvantagein the trade war with President Trump.
