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Abbott Withdrawing Infant Formula From China Amid Declining Birth Rates

Started by Epoch-Times-Bot, Dec 22, 2022, 02:37 PM

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Epoch-Times-Bot

Dec 22, 2022, 02:37 PM
Abbott Withdrawing Infant Formula From China Amid Declining Birth Rates

News Analysis
After 24 years in China, Abbott, the largest U.S. supplier of infant formula, has decided to pull out a significant part of its operations from China.
In recent years, the number of newborns in China has dropped significantly while more and more foreign companies are moving their supply chains out of the country. This reflects a declining demand for infant formula and a declining workforce in the country.
On Dec. 14, Abbott released a statement on its official website in China. The statement explained: “Over the past few years, Abbott has engaged in intense competition in China’s rapidly changing market. However, consumer demand for infant formula and child nutrition products is changing. As a result, Abbott has decided to phase out operations and sales of infant and children’s nutrition products in China over the next year."...

Source: Abbott Withdrawing Infant Formula From China Amid Declining Birth Rates

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