China’s Factories Are Back. Its Consumers Aren’t.
The manufacturing giant is once again turning out steel and cellphones. But job losses and pay cuts have left its people reluctant to spend — a problem the U.S. and Europe may soon face, too.
China’s Factories Are Back. Its Consumers Aren’t.
The manufacturing giant is once again turning out steel and cellphones. But job losses and pay cuts have left its people reluctant to spend — a problem the U.S. and Europe may soon face, too.