This article is from the source 'nytimes' and was first published or seen on . The next check for changes will be
You can find the current article at its original source at https://www.nytimes.com/2023/09/17/business/china-cosmetic-imports.html
The article has changed 7 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| This China Trade War Isn’t About Semiconductors | This China Trade War Isn’t About Semiconductors |
| (32 minutes later) | |
| In the gloom of China’s economy, one area of business is booming: cosmetics. | In the gloom of China’s economy, one area of business is booming: cosmetics. |
| After enduring nearly three years of mandatory masks and frequent lockdowns during the pandemic, many Chinese consumers, wary of big-ticket purchases like apartments, are now splurging on lipstick, perfume, moisturizers and other personal care products. | After enduring nearly three years of mandatory masks and frequent lockdowns during the pandemic, many Chinese consumers, wary of big-ticket purchases like apartments, are now splurging on lipstick, perfume, moisturizers and other personal care products. |
| But cosmetics companies from France, Japan, South Korea and the United States, which have invested heavily in China, are missing out on a lot of the action. | But cosmetics companies from France, Japan, South Korea and the United States, which have invested heavily in China, are missing out on a lot of the action. |
| As China’s cosmetics companies are booming, imports of cosmetics are wilting under regulations that the country imposed on foreign manufacturers during the pandemic. | As China’s cosmetics companies are booming, imports of cosmetics are wilting under regulations that the country imposed on foreign manufacturers during the pandemic. |
| While China’s trade conflicts with the West over semiconductors pivot on national security and technological innovation, the dispute over cosmetics is largely about money. | While China’s trade conflicts with the West over semiconductors pivot on national security and technological innovation, the dispute over cosmetics is largely about money. |
| “I’m not talking about peanuts,” said Bruno Le Maire, France’s finance minister. “For many French companies,” he added, China “represents between 30 and 35 percent of their total revenues.” | |
| During a visit to China last month, Gina M. Raimondo, the U.S. commerce secretary, said the United States wanted to expand its exports of personal care products. “No one can argue that health and beauty aids interfere in our national security,” Ms. Raimondo said. |