The head of one of Europe’s biggest home appliance makers said China’s slowing growth was “very worrying”, warning the country’s sprawling manufacturing sector could dump cheap products elsewhere as the domestic market cools.
Hakan Bulgurlu, chief executive of Istanbul-based Arçelik, said in an interview with the Financial Times that the “huge capacity” of Chinese manufacturers was a major risk for rivals.
“If the Chinese market slows, that means they need to use that capacity and put that product in other markets,” he said. His company owns brands including Beko and is in the process of buying a majority stake in Whirlpool’s European household appliances business.
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