Associated Press, ALEX KENNEDY
SINGAPORE (AP) — Sony Corp. President Ryoji Chubachi warned Thursday that stagflation — slowing economic growth and quickening inflation — in the U.S., Europe and Japan is beginning to undermine consumer demand in Asia.
"This is the reality we are facing. Our concern is that consumers' buying power is decreasing." Chubachi said at a news conference in Singapore at the opening of a lithium-ion battery plant here, Sony's first battery factory in Southeast Asia.
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