Unfazed by Turmoil, Nissan Joins Starbucks Reassuring on China
- Starbucks to add 500 China stores, more than in previous years
- Nissan joins SAP, Dalian Wanda in defying market volatility
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Senior executives from Starbucks Corp. to Nissan Motor Co. and SAP SE are playing down concerns about China’s slowdown and further potential depreciation of the yuan, with plans to sell more coffee, cars and software in the world’s second-biggest economy.
“When you look at the fundamentals, there is nothing wrong with the development of the Chinese economy,” Nissan Chief Executive Officer Carlos Ghosn said in an interview in Detroit. “Particularly for the car industry, I look at China as having a very low level of motorization, still.”