While Chinese manufacturing and construction are struggling to recover, some American companies with strong ties to China. Some leading chemical and manufacturing companies have reported weaker second-quarter sales, with some cutting their outlook for the second half of the year, saying conditions may worsen.
For many Americans, this may mean more-expensive cars and personal-care products. If companies with a large presence in China lose enough revenue and China continues slowing, that could drag the US economy down as well and lead to layoffs. Many American CEOs hoped that China's reopening in December would be a major turnaround in revenues for the region, though many have been left underwhelmed. Citigroup, whose
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AI will radically reshape job market, global economy, employee productivityInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Source: BusinessInsider - 🏆 729. / 51 Read more »