Temu owner PDD’s stock crash sends warning about China's economy

The disappointing results were the latest in a series of red flags about the Chinese economy.

In the latest warning to global markets on the health of the Chinese economy, Temu-owner PDD on Monday surprised investors with an unusually gloomy outlook. Photo: Lam Yik/Bloomberg

One of the last remaining bright spots for Chinese consumption is rapidly fading, as the nation’s economic malaise takes a toll on demand for even the most accessible of goods.

In the latest warning to global markets on the health of the Chinese economy, Temu-owner PDD on Monday surprised investors with an unusually gloomy outlook.