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McDonald's raises China bet, bucking Western firms' derisking trend

IndiaTimes Monday, 4 December 2023
McDonald's decision to take greater control of its China business and expand aggressively is seen as risky but potentially rewarding. Its majority partner in China, CITIC, provides political cover, which is important given the geopolitical situation. Starbucks, Apple, Coach owner Tapestry, and Nike are also dedicated to the China market. McDonald's has used funds from the Carlyle investment to double its restaurant count and aims to have over 10,000 stores in China by 2028. Competitors like Yum China, Wallace, and Tastien are also expanding in China.
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