What does China’s economic downturn mean for Oregon-based global businesses?
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The laser manufacturer nLight Corp out of Clark County is one of the Oregon-based businesses affected after a $10 million production expenditure last summer, according to OregonLive.
Manufacturers use nLight's lasers to make everything from car parts to smartphone cases, and much of that production takes place in China. With that country's stock market now in freefall, and its industrial economy slamming on the brakes, nLight is also cutting back as the economic turbulence halfway around the world begins to hit home.
‘People need to understand that it's real – it affects us here,’ Scott Keeney, nLight's chief executive.
Washington and Oregon are two of the nation's biggest exporters to China – first and sixth, respectively, out of the 50 states. And the Northwest is already feeling the effects of China's reversal of fortune.
(READ MORE: OregonLive.com)
Intel and Hillsboro-based Qorvo have seen stock declines partly due to China’s slowed economy, according to OregonLive.
