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"China's AI industry is booming," Zhang said. "There are always arguments that there will be companies that will not survive. Maybe, 90 percent will go to the wall."
"Chinese customers are not buying PSA's romantic designs as they fail to meet the needs of Chinese consumers," said the sources.
"China's economic recovery was not strong enough due to limited improvement in demand, and some companies didn't replenish inventories," said Zhong Zhengsheng, chairman and chief economist at CEBM Group, a Caixin subsidiary.
"China's regulators were trying to buck the trend by keeping the yuan stable for a long time, but they are probably just going to let it follow market forces at this point instead of using precious dollar reserves to defend the yuan," Ann Lee, a specialist in China's economic relations and adjunct professor at New York University, told China Daily.
"Chinese colleagues are like our brothers, we take care of each other," said Hosam Alghamdi, a Saudi manager of the public relations department of YASREF. "The company is more like a cultural integration rather than just business cooperation."
