The potential tremors from an economic slowdown in China became more palpable this week as Apple slashed its financial forecast, citing disappointing iPhone sales there. Lower consumer spending in China could hurt G.M., Ford, Toyota and other automakers because they now depend on that country to drive global growth, and some reap considerable profits there. Ford is especially vulnerable because it has been losing money in China and is trying reorganize its operations there. Ford said any worries about a slowdown in China were not likely to be a factor in domestic demand. “But it hasn’t slowed the industry to a point of concern.”Still, Ford and G.M.

Source: New York Times January 04, 2019 01:18 UTC