China's tanking economy is costing major US companies and could throw cold water on America's economic boom
China's economy has been worsening, and some American businesses are feeling the pain. Economic data released Tuesday showed the world's second-largest economy performed below analyst expectations in terms of industrial production, retail sales, and exports. China's July economic report didn't mention youth-unemployment statistics after it soared to 21.3% in the second quarter, citing economic and social changes. While Chinese manufacturing and construction are struggling to recover, some American companies with strong ties to China are also feeling the effects. 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... Read more...
