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China factories are feeling some heat as U.S., Europe demand slows

2022-07-11 10:21:11       source:CNBC

July 10, 2022

European sales for Guangdong-based coffee machine company HiBrew have tapered off after a sterling run last year when pent-up global demand drove up purchases of Chinese consumer goods. 

Sales have fallen 30% to 40% so far this year, a sharp contrast to the 70% growth in business last year, according to General Manager Zeng Qiuping.

Rising living costs in the U.S. and Europe as well as importers waiting for potential U.S.-China tariff cuts contributed to the downturn, Zeng said. But he is optimistic the current lull is just a blip and overseas demand will return.

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