Nike

Just last year, China showed that it wasn’t afraid to poke Nike when a program on state-run television criticized it for false advertising. That’s troubling for the world’s largest sports brand because consistent growth in China stabilized Nike Inc. when it struggled to fend off competition in the U.S. Revenue in China surged 21 percent in the past year to $5.13 billion, growing to 14 percent of Nike’s total sales. Meanwhile, revenue in North America declined about 2 percent. And China is a major supplier, too, producing about one-fifth of its goods.

Starbucks

The coffee chain counts the U.S. and China as its two key markets. Last year, China was “a standout,” posting 7 percent same-store sales growth, Chief Executive Officer Kevin Johnson said. Starbucks Corp. expects strength to continue with an accelerated expansion plan that will add 600 stores a year to hit 6,000 by 2022. But there are already signs of weakness in the country, with sales at existing stores declining 2 percent last quarter.

Starbucks is also more exposed than other U.S. restaurant chains because it owns most of its stores in the country, rather than selling franchise rights. But that may also shield it from a backlash because it’s seen as a good employer and founder Howard Schultz travels to the region often for public events.

(Read more: Bloomberg)