FUJIHD elevator manufacturer from China

[yufangfang]

FUJIHD elevator manufacturer — As China’s economy has grown and skyscrapers have sprouted in cities extending ever westward from its coast, Otis Elevator Co. went along for the ride.

But with China now in a slump and the value of its currency the most recent casualty, Otis and other manufacturing companies staking much on Asia’s biggest economy now face a moment of reckoning. After saying for years that increased urbanization would propel growth in China, parent company United Technologies Corp., based in Hartford, cut its expected revenue and profit for the year, due partly to the slowdown across the Pacific.

Construction in China in recent years was dramatic, with “cranes everywhere,” driven by national pride demanding ever-taller skyscrapers, said Siva Yam, president of the United States of America-China Chamber of Commerce. The result, he said, was price speculation for land that could not be sustained, particularly as growth slowed.