CUPERTINO, CA - SEPTEMBER 12: The new iPhone X is displayed during an Apple special event at the Steve Jobs Theatre on the Apple Park campus on September 12, 2017 in Cupertino, California. Apple held their first special event at the new Apple Park campus where they announced the new iPhone 8, iPhone X and the Apple Watch Series 3. (Photo by Justin Sullivan/Getty Images)
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Apple warns that iPhone sales could take big hit
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CUPERTINO, CA - SEPTEMBER 12: The new iPhone X is displayed during an Apple special event at the Steve Jobs Theatre on the Apple Park campus on September 12, 2017 in Cupertino, California. Apple held their first special event at the new Apple Park campus where they announced the new iPhone 8, iPhone X and the Apple Watch Series 3. (Photo by Justin Sullivan/Getty Images)
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Chief Executive Officer of Apple, Steve Jobs attends a press conference in central London, 18 September 2007. Apple announced here Tuesday that Britain would be the first European country to get its much-vaunted iPhone, when mobile phone operator O2 launches the gadget on November 9. Apple chief Steve Jobs told a London press conference that O2, owned by Spain's Telefonica, has won an exclusive contract to distribute the iPhone in Britain for "cultural," rather than economic, reasons. He said the iPhone would retail in Britain at 269 pounds (387 euros, 536 dollars). AFP PHOTO/SHAUN CURRY (Photo credit should read SHAUN CURRY/AFP via Getty Images)
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CUPERTINO, CALIFORNIA - March 8, 2022: Apple CEO Tim Cook showcases the new iPhone SE featuring 5G and the A15 Bionic chip during a special event at Apple Park. (Photo by Brooks Kraft/Apple Inc.)
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BERLIN, GERMANY - SEPTEMBER 16: A visitor tries out an Apple iPhone 7 on the first day of sales of the new phone at the Berlin Apple store on September 16, 2016 in Berlin, Germany. The new phone comes in two sizes, one with a 4.7 inch display, the other with a 5.5 inch display. (Photo by Sean Gallup/Getty Images)
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Apple’s problems sound alarm bells about China’s future

By Arthur Dong for CNN Business Perspectives
Updated 5:18 AM EST, Fri January 4, 2019