China is vast, but the whole nation can still be swept by trends — especially if politics enters the frame. When the products of a business are shunned, the consequences can be painful. South Korea, formerly beloved by Chinese consumers for its K-pop and cosmetics, is in the sin bin for agreeing to host a missile defence system for the US. South Korean companies are getting caught in the cross hairs of Chinese disapproval. But the trend may not last long.
中国幅员辽阔，但整个国家仍可能被潮流所席卷——特别是如果牵扯到政治的话。当一家企业的产品被刻意避而不买，其后果可能是痛苦的。以前中国消费者钟爱韩国流行音乐和化妆品，如今，由于同意让美国部署反导系统，韩国已经“被罚下场”了。韩国公司沦为中国不满情绪的靶子。但这股潮流可能不会持续很久。
Hyundai Motor and affiliate Kia Motors are the latest to feel the chill. Yesterday, shares in the carmakers dipped in response to reports they have slashed production in China, where combined unit sales halved year on year in March. While neither splits out China revenues, this will drag down Asia’s contribution, around one-third of Hyundai’s total. The group’s Chinese plant sells around one-fifth of total volumes. Kia has similar metrics.
现代汽车(Hyundai Motor)及其关联公司起亚汽车(Kia Motors)是最新感受到这股寒意的韩国公司。周二两家公司的股价双双下跌，原因是有报道称，它们削减了在华产量——3月份两家公司在华销量同比下降一半左右。虽说两家公司都没有单独列出在华营收，但这肯定会拉低亚洲的贡献，亚洲市场约占现代总营收的三分之一。从中国工厂卖出的汽车约占该集团总销量的五分之一。起亚情况类似。
These are not the only South Korean consumer names with significant exposure to China. AmorePacific, purveyor of cosmetics, and Samsung Electronics earn around 20 per cent of revenues there. Abashed South Korean groups should learn from compatriot Lotte. The group, which has given over a golf course for the missile site, was the first to be blacklisted. Following official inspections, most of its 100 or more stores in China have been forced to close. But on Monday the company said it will continue to invest there.
在中国有较大业务的韩国消费品牌不只这两家。化妆品集团爱茉莉太平洋(AmorePacific)和三星电子(Samsung Electronics)在华营收都占到了总营收的20%左右。受挫的韩国集团应该向本国企业乐天(Lotte)学习。乐天让出了一块高尔夫球场用于部署反导系统，它是最先被列入黑名单的。在遭受官方检查之后，乐天在中国的100来大卖场大多被迫关门。但周一该公司表示将继续在中国投资。
Lotte’s long-term view is wise. Geopolitical trends are more unpredictable than usual. However, sabre-rattling by US president Donald Trump towards North Korea is as likely to lead to a rapprochement with China as it is to an escalation of tensions.
乐天抱着这种长远眼光是明智的。当今地缘政治趋势比往常更加不可预测。然而，美国总统唐纳德?特朗普(Donald Trump)对朝鲜武力恫吓既可能导致紧张局势升级，也可能导致韩国与中国重新修好。
This month, Chinese consumers may be eager to boycott South Korean products, and to fall in line with a ban on travel to the country. Previous diplomatic spats with Japan did not stop Chinese consumers from hoovering up Japanese products ranging from nappies to high-tech toilet seats. Chinese products mostly cannot compete with Japanese or South Korean ones. Until this changes, its shoppers will continue to look east for quality goods.
本月，中国消费者可能迫切地要抵制韩国产品，并遵从赴韩旅游禁令。以往中国与日本的外交纷争并没有妨碍中国消费者大肆购买各种各样的日本产品，从尿布到高科技的马桶座。中国产品大多无法与日本或韩国产品相比。在这种情况改变之前，中国消费者将继续把目光投向东方，以寻找优质产品。
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