Despite concerns over human rights abuses and growing economic dominance by the United States, some of America’s largest corporations are planning to expand their operations across China.
Companies like McDonald’s, Starbucks, Tyson Foods, Hormel Foods, Ralph Lauren and Tapestry Inc. are planning to expand into China. Starbucks, in particular, is banking on rapid growth in the Chinese market to open thousands of new stores.
THE the wall street journal reports:
“I remain more confident than ever that we are still in the early chapters of our growth story in China,” said Howard Schultz, Starbucks’ acting chief executive. and longtime leader earlier this month. The company plans to open 3,000 new stores by 2025, even though same-store sales in the country fell 42% in December and 15% in January from a year earlier. Mr. Schultz said he was planning his first visit to the country in years in the spring.
McDonald’s, meanwhile, opened about 700 stores across China in 2022 and plans to open another 900 this year, more than double what it plans to open in the United States. Similarly, Tyson Foods plans to open three new food processing plants in China. while Hormel Foods is also planning a big expansion.
China-based media reported that Hormel Foods would build a nearly $15 million food processing plant just outside Shanghai, China. The executives did not respond to requests for comment from the Log.
Business expansion in China has been accompanied by virtually no legislative pushback from lawmakers in Washington, D.C., and the administration of President Joe Biden, even as the communist country has worked to oust the American working and middle class through job-destroying free trade that has resulted in economic domination. for the Chinese Communist Party (CCP).
More recently, the senses. Tom Cotton (R-AR), Ted Budd (R-NC), Rick Scott (R-FL) and JD Vance (R-OH) have introduced legislation to end the permanent status of China’s normal trade relations with the UNITED STATES.
John Binder is a reporter for Breitbart News. Email him at firstname.lastname@example.org. Follow him on Twitter here.