U.S. companies have expressed concerns about investing in China due to fines, raids, and other actions that have made it risky to do business there. Many global firms are taking a cautious approach to their China business, citing a slow recovery of the country s economy. However, some companies have reported positive developments, such as Estee Lauder forecasting a weak profit due to slow rebound in Asia travel retail, Starbucks experiencing a sharp recovery with sales surging 46%, and AbbVie Inc seeing rates for aesthetics treatments fully recover to pre-COVID levels.
Multiple global firms are expressing caution towards their business in China, due to a frail economic recovery from the pandemic slowdown. Procter & Gamble saw a 1% fall in overall volumes, while L Oreal mentioned that the recovery in the Chinese market is slow. Intel s CEO Pat Gelsinger reported that the China market has not come back as strongly as expected. Furthermore, there were fewer new orders from China for ABB, while Citigroup expressed that the deceleration in growth was the "biggest disappointment.
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