Bloomberg Businessweek

Feeling China’s Pain

Multinationals’ reliance on the country’s enormous consumer market could turn into a liability

China has long been a magnet for U.S. brands eager to tap its massive population. Even as the heady days of double-digit economic growth ended this decade, the consumer story rolled on as tens of millions were added to the coffee-sipping, movie-going, smartphone-addicted middle class, a cohort that exceeds 400 million people.

Starbucks, Apple, and Walt Disney led the charge into China with Chai Frappuccinos, rosegold-colored iPhones, and films with Chinese actors and locations woven into plotlines. So when Apple Inc. cut its revenue forecast for the first time in almost two decades on

You're reading a preview, sign up to read more.

More from Bloomberg Businessweek

Bloomberg Businessweek1 min read
Case Closed
Since it was first introduced in 1992, the Kelly Dépêches briefcase from Hermès ($10,200) has been almost as sought-after as its celebrated namesake handbag. This iteration, new for fall, has a slimmer profile, a shorter flap for easier opening and c
Bloomberg Businessweek8 min read
Now, About That Yield Curve
The chance of a recession in 2020 has Democratic campaign strategists feverish with anticipation—while trying not to show it—and President Trump even more amped up than usual. While Trump says he’s confident of the strength of the U.S. economy, his a
Bloomberg Businessweek10 min readFood & Wine
Impossible Foods And Beyond Meat Can’t Make Fake Burgers Fast Enough
Ethan Brown, chief executive officer of Beyond Meat Inc., doesn’t want to talk about his company’s stock price. He’s more than happy to talk about Beyond’s plant-derived meat matrix or its athlete spokespeople, or even how his products aren’t quite a