China is facing a perfect storm as its industrial output declines by double digits
Annual profits at China’s industrial firms extended a double-digit decline in the first five months as softening demand squeezed margins.
China’s economy has struggled post covid and it’s long lockdowns.
Andrew Sullivan from Asian Market Sense in Hong Kong says China is faced with the perfect storm.
As domestic consumption decreases, international companies are now looking to India and Vietnam to produce its goods.
Then there’s the ongoing concerns about China’s relationship with Taiwan, and what that would do to the country’s computer chip manufacturing. #featured #china #industrial #economy
