Almost half of the big US companies operating in China have been adversely affected by overcapacity in the country, according to a new survey, underscoring deepening concerns about sluggish demand and rising deflationary pressures in the world’s second-largest economy.
An annual survey by the US-China Business Council found that overcapacity had hit 42 per cent of respondents, up significantly from the 25 per cent that reported an impact last year.
This year was the first that overcapacity was among the 10 biggest challenges to business since 2016, according to the business lobby, which between March and May polled 130 member companies, more than half of whom have annual China sales exceeding $500mn.
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