While consumer confidence in China might be high in general, the so-called middle class – earning between 6,000 and 115,000 US dollar per year – are fairly pessimistic, explains business analyst Shaun Rein at CNBC. Mid-tier consumer brands are being hit, he predicts.
Are foreign firms having a hard time in China? That is the question the China Weekly Hangout will address on Thursday 22 August, with as panelists China veteran-at-large Janet Carmosky, CEIBS business professor Richard Brubaker and international lawyer Nathan Kaiser. You can read our announcement here, or register directly at our event page here.