What I don't understand is why you're always rushing to bash the CCP. (Or more correctly, the CPC.)
That's an ideological stance on your part. What skin off your back is it how they govern their country?
OK, so maybe you don't like their system of governance. Fine.
In my book, that and $4.50* will get you a cup of coffee at Starbucks.
The fact is that their economic trajectory is, generally, upwards. Sure, they're suffering some downturns; all economies do from time to time.
Which may no longer be the case for the US.
Unless you're a diehard "USA! USA" booster (or MAGA).
* Is that even true anymore? I don't go to Starbucks. Is that enough dough for a cup o'joe?
I have abandoned this discussion because I consider it a waste of my time but now that you mention China and Starbucks in the same post I will mention I just came across a YT video which I found very interesting and which tells the story of Starbucks in China. They opened their first coffee shop in 1999 in a country where people did not drink coffee but tea. For 15 years they had explosive growth even though their prices, adjusted for purchasing power, were more expensive than in western countries. A western image, expensive prices, made them appear "upscale" and where younger people wanted to hang out and be seen. They introduced coffee consumption to the Chinese.
In 2017 Luckin Coffee was founded and in just two years had surpassed Starbucks. It did not seek to copy Starbucks but, on the contrary, it was the quick, inexpensive cup of coffee.
The video analyses the market strategies of both and how Starbucks really had no way out; it had painted itself into a corner. People had been paying higher prices for the "upscale image" and lowering prices would damage that image. They could not compete on price.
I find it interesting that some company or product creates a market, blazes a new road, but ultimately that market segment disappears or other compete better but the original is forced out. Sometimes it is just better to abandon that market than to try to hang on. IBM introduced the PC but ultimately lost the market. Blackberry had a product that was unique in its segment but they were wiped out by the smartphone.
It seems like Starbucks might be on the way out in China and I think it could be a mistake for them to try to hang on to that market for too long if the market has moved elsewhere. Maybe the Starbucks brand is on its last legs in China and rather than trying to keep it alive it would be better to start a different brand to compete directly with Luckin Coffee ... or just abandon the Chinese market.
I find these marketing competitions fascinating because it is so complicated to try to forecast what the market will demand and how you can influence that. We see brands appear, grow like crazy and then go bankrupt, all the time.
I found this video especially interesting because I have been traveling to China for 30 years and I remember how difficult it was to find a cup of coffee, then how coffee began to be trendy and how western brands were considered attractive and how now coffee is just one more thing without special significance and the allure of western brands has pretty much vanished. The video shows quite a bit about daily life in China and might surprise some who think the average Chinese lives in a bamboo hut.
I have used Luckin Coffee many times and it is the opposite of Starbucks. You order and pay from your phone app, whether you are in the store or in your office, and you just go to the store to pick up your order. Or you can have it delivered to your location. In general their coffee is more adapted to Chinese taste and, for my taste, not as good.
Luckin Coffee operates in the US and had a big financial scandal. They have their own interesting story.
https://en.wikipedia.org/wiki/Luckin_CoffeeThis YouTube channel, Asian Boss, has some interesting videos on other similar things like automobile market in Korea, etc. I found it interesting. I believe the guy is Korean but his topics cover all Asia.
Anyway, sorry for the hijack and here's the video.
Is This The End Of Starbucks In China?