Without the boom in China, GM’s total vehicle sales would have declined.Īnd much of the supply chain of US companies is at least partially dependent on China. GM’s global vehicle sales rose a mere 0.4%. In the first three quarters this year, GM sold 2.7 million vehicles in China, 38% of GM’s global sales, and up 9% year-over-year. In the last earnings report, GM specifically pointed at its “strong performance in China,” the largest auto market in the world. Qualcomm gets 57% of its revenues in China, Micron 43%, Apple 23%, Jabil 21%, Boeing 13%, Wynn Resorts 60%, according to Bloomberg’s math. “The whole semiconductor industry could collapse.”Ĭhina is important to US companies.
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