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Home News China

Apple, Tesla and Starbucks struggle in China’s economic slump after making a fortune for decades

NEWSROOM by NEWSROOM
May 14, 2024
in China
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Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter, which explores what you need to know about the country’s rise and how it impacts the world.


Hong Kong
CNN
 — 

For decades, Western companies made a fortune betting on the inexorable rise of the Chinese consumer. Now an economic slump and the emergence of ferocious local competitors means those bets look less safe as price wars erupt.

…



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