15 August 2023
China’s worsening economic downturn is negatively impacting major American businesses operating in the country, especially those linked to its declining manufacturing, construction, and export sectors. Notable companies like DuPont, Dow, and Caterpillar are reporting weaker sales, and some are revising their future sales projections downwards. Danaher CEO, Rainer Blair, highlighted a significant drop in orders, with June seeing a 50% decrease. This slump is attributed to decreased foreign investment and post-pandemic overcapacity. The economic slowdown in China is having ripple effects globally, with other regions experiencing reduced demand and revenue.