Western Companies Face ‘Existential Crisis’ as Fears Grow of Chinese Invasion of Taiwan

Days after the Ukraine battle erupted, Apple, BMW, McDonald’s and different Western giants lined as much as announce they had been quitting Russia in protest. “This moment calls for unity, it calls for courage,” declared Tim Cook, Apple’s chief government. That it solely triggered a comparatively small monetary hit should even have helped. The resolution reportedly value the iPhone maker lower than 1pc of its international gross sales, whereas some overseas companies, together with France’s Renault, selected to dump their Russian operations for a symbolic one ruble. Oil big Shell, which made nearly $300bn (£254bn) in gross sales final yr,…