Starbucks CEO says the company is ‘playing the long game in China’
(CNN) -- New competition and a slowing economy aren't scaring Starbucks away from China. "We are playing the long game," said CEO Kevin Johnson on an earnings call Thursday. "We remain bullish on our path in China and the growth that lies ahead." China is Starbucks' fastest-growing major market, and the company has expanded aggressively in the country. China poses unique risks to Starbucks: Customers may not want to pay for pricey coffees, considered a luxury product in a market with a nascent coffee culture, and local chains are gaining ground.
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