China’s Middle Class Crashes: Starbucks May Exit China, Big Cuts at Mercedes
China’s Middle Class Crashes: Starbucks May Exit China, Big Cuts at Mercedes
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Starbucks’ landmark store in Shanghai’s Xintiandi, which had been open for 24 years, has permanently closed.
Recently, Starbucks has been shutting down stores across major Chinese cities. The Xintiandi store in Shanghai is gone, along with locations in Shenzhen’s MixC Mall, Beijing’s Sanlitun, Guangzhou’s World Trade Center, Chongqing’s Three Gorges Square, and Changsha’s first-ever Starbucks.
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