Chinese downturn hits companies harder than expected
An increasing number of industry companies are experiencing declining sales in China, writes Wall Street Journal. "We had planned on an economic downturn in China, but it is actually worse than expected," says the former Caterpillar CEO.
BY RITZAU FINANS
A rising number of industrial companies have announced that their sales to China are declining. Manufacturers of everything from bulldozers to computer chips have invested heavily in expanding their business in the country, which has a population of 1.4 billion and a growing appetite for world-class consumer goods, reports Wall Street Journal.
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