And now not even their foreign subsidiaries are immune.
Exports are dominated by two countries, imports by three. And everything revolves around China.
Years of “growth at any cost” led to accounting fraud, huge government bailouts, and murky restructuring plans.
“Worse than the one following the Global Financial Crisis.”
Orders plunge 87% from an already terrible 2015.
Global overcapacity, plunging demand, and a price war.