TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer comments on Starbucks’ appointment of a new CEO to oversee its China expansion. He said that YUM! Brands also hired a China CEO, which helped with multiple expansion in the region. Starbucks expects to have 5,000 store locations in China by 2021, according to media reports. Starbucks shares lost 11% since the start of the year. Belinda Wong has been named CEO of Starbucks China. China’s economy grew 6.7% in third quarter, in line with analysts’ estimates.
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