‘Of course car sales have not returned to normal levels — people are still very wary,’ Cui Dongshu, the secretary general of the China Passenger Car Association, which represents manufacturers, said on Friday. ‘They feel this spike in the stock market today is probably not sustainable.
Even with the rebound, $3.1 trillion in market value, much of it financed with borrowed money, has been erased since mid-June. Many experts worry about the damage to the Chinese economy, particularly if stocks continue to fall. Consumer confidence could suffer, weighing on the country’s growth and on economies elsewhere that depend on exports to China.
*Is Apple seeing fewer sales of the Apple Watch Edition (U.S. Apple Store pricing) in China? If yes, what is the degree of change in sales?