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Global economic slowdown: is China really to blame?

04/02/2019 · Apple (AAPL)  · Caterpillar (CAT)  · Nvidia (NVDA) 

China Economics Emerging Markets Politics

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In the last few months, China has become the fall guy for poor corporate results. Companies whose numbers haven’t quite lived up to expectations have used the same tactic: blame it on China.


Jaguar Land Rover’s interim results statement (31 Oct 2018): “The results primarily reflect lower than expected sales mainly due to more difficult market conditions experienced in China”.

Tim Cook, chief executive of Apple (2 Jan 2019): “most of our revenue shortfall to our guidance and over 100% of our year-over-year worldwide revenue decline occurred in Greater China”.

Tech giant Nvidia’s earnings update (28 Jan 2019): “Deteriorating macroeconomic conditions, particularly in China, impacted consumer demand…

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