I think also at the moment it can be easy to discount the $H@T storm that the zero covid policy is having in China across a multitude of industries and areas. Its a really big deal, as are the droughts. I'm not sure how big an issue that is currently but it was contributing to power grid Instability and rolling brown outs.
Also the Yuan is devaluing pretty heavily.... and while you think that should be a tail wind for exports, Not if you have to pay for all the raw materials in the first place before you can value add/ manufacture and on sell product.
There are so many variables going on in china ATM it would make business difficult so I'm not surprised to see more than one Chinese company on that list and that's not even adding the re election of XI Jinping or the property bubble that's starting to blow up.
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