00:00It's Benzinga, bringing Wall Street to Main Street.
00:03American and Chinese restaurant chains are expanding across each other's markets
00:07as companies look overseas for growth, according to the Associated Press.
00:11U.S. brands, including McDonald's, Wendy's, Burger King, and Church's Texas Chicken,
00:16are planning thousands of new locations in China where American fast food remains popular.
00:22Chinese chains are also moving into the U.S. as weak consumer spending and fierce competition
00:27limit growth at home.
00:29Mix You, Hey Tea, and Luckin' Coffee are among the brand's opening U.S. locations,
00:34often competing heavily on price.
00:36Chinese companies remain largely unproven with American consumers.
00:40American chains are adapting their menus and using local partners to expand in China.
00:45Chinese restaurant brands in the U.S. could face customer backlash,
00:48higher tariffs, and scrutiny over how they collect and use customer data.
00:53For all things money, visit Benzinga.com.
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