60 Minutes did a story recently on the ever-increasing pressure on foreign companies of a "Chinese First" mentality that's brewing.
(Same is true in Russia where there they're actually rebranding popular Western retailers with a slightly different Russian take on the company name and logo to give the illusion the Western brand still exists...)
Sort of the Aldi mentality.... It looks like a brand you recognize, but it's not.
China can't maintain their current rate of annual growth, and it's starting to have an impact.
There's also an aging middle class there, born into the boom there, and deep unemployment among the youth of China.

Most economist agree that a cooling down of an economy can be beneficial. Mass layoffs only further help an economy by forcing retailers to lower costs to increase sales, thus putting inflation in check, during a down time.