FedEx, Caterpillar and others feeling the pain of China’s slowing economy

Posted: September 19, 2012 in China, Economy, Europe, United States
Tags: , , , , , , , , , , , ,

Captain Rick: The sluggish economies of the U.S. and Europe are having a direct effect on China’s economy, all working in unison to amplify the global financial crisis. FedEx, the world’s largest air package shipper says the impact on China’s economy is far bigger than most have estimated. FedEx has trimmed the number of planes carrying shipments into the United States.

Caterpillar, the worlds largest maker of earth-moving equipment, has slowed production at its main Chinese excavator factory, including a two month shut down and cutting work hours. Caterpillar is exporting most production out of China as a result of overestimating sales potential in China. Many other companies are also effected. The report continues …

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For more info, read the above Fortune Report:  http://finance.fortune.cnn.com/2012/09/19/fedex-china/

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