Multinationals sound alarm over weak demand in China

Shanghai | Multinational groups from Volkswagen to AB InBev and L’Oreal have sounded the alarm about demand in China, with the effects of a slowing economy exacerbated by shrinking appetite for foreign brands and intensifying domestic competition.

In results last week WPP, the London-listed advertising giant, cited a near one-quarter drop in Chinese sales in the past three months, a poor outlook in the country and signs of consumer caution.

Financial Times