We’re living through an unapologetic economic era when even the most historic incumbents are getting humbled—Paramount was sold for a song, and Warner Bros. faces assimilation; the White House is morphing into a conference center; Saks is working through its post-bankruptcy blues, etcetera. And now, nearly two years into its own grinding turnaround, Nike C.E.O. Elliott Hill announced this week that the company would be slashing its third-party e-commerce presence in China. In some ways, the pivot from Asia was inevitable. Even before Donald Trump imposed a new set of ostensibly SCOTUS-proof tariffs, brands had already endured weakening sales in China. Many industry observers had hoped the world’s second-largest consumer market would offset declining demand from wealthy Middle Eastern shoppers impacted by the Iran war. Now, it seems Hill will have to look elsewhere.