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Walmart’s Supplier Says Chinese Factories in ‘Desperate’ State
Posted on 8/3/19 at 11:59 am
Posted on 8/3/19 at 11:59 am
quote:
Walmart’s Supplier Says Chinese Factories in ‘Desperate’ State
By Daniela Wei and Jinshan Hong
July 10, 2019
• Li & Fung is accelerating shift out of China due to trade war
• Vietnam now ‘completely full’ as American retailers rush in
The world’s largest supplier of consumer goods says China’s factories are getting “urgent and desperate” as worried U.S. retailers accelerate a move out of the country amid heightened trade tensions.
China will see more factory shutdowns as the trade war that’s roiled the global supply chain exacerbates an exodus, said Spencer Fung, chief executive officer of Li & Fung Ltd. The company, which designs, sources and transports consumer goods from Asia for some of the world’s biggest retailers including Walmart and Nike, is being pushed by American clients to shift production out of China.
“U.S. clients are definitely very, very worried,” Fung said in an interview with Bloomberg. “Everyone is making razor-thin margins already and most people have a huge percentage in China. So if the biggest source increases the price by 25%, they are worried,” he said, referring to the scale of tariffs threatened on all Chinese imports to the U.S. by President Donald Trump.
LINK
Posted on 8/3/19 at 12:02 pm to NC_Tigah
quote:Not as desperate as the 80,000 U.S. factories that have been abandoned for a couple decades.
Walmart’s Supplier Says Chinese Factories in ‘Desperate’ State
Posted on 8/3/19 at 12:03 pm to NC_Tigah
Good
Let them either play by the rules, lose their developing nation status and quit stealing intellectual property .... or let them fail.
frick'em.
Let them either play by the rules, lose their developing nation status and quit stealing intellectual property .... or let them fail.
frick'em.
Posted on 8/3/19 at 12:11 pm to NC_Tigah
As others have noted: Good.
Posted on 8/3/19 at 12:11 pm to NC_Tigah
No wonder IBchinaman is melting down
Posted on 8/3/19 at 12:19 pm to NC_Tigah
quote:
The world’s largest supplier of consumer goods says China’s factories are getting “urgent and desperate” as worried U.S. retailers accelerate a move out of the country amid heightened trade tensions.
This what low-information Trump haters like c-willie, Pygmalion Hog and Jorts Boy simply can't grasp. They don't understand that the minimal, and temporary, sacrifice being made by American farmers is NOTHING compared to what is happening in China. Trump is systematically taking down China, but he is doing it economically without firing a shot.
Is America going to win the trade war with China? We already have.
Posted on 8/3/19 at 12:23 pm to Buckeye Jeaux
quote:
Not as desperate as the 80,000 U.S. factories that have been abandoned for a couple decades.
This x100000
China, NAFTA- Mexico,India, Vietnam have raped and pillaged the US manufacturing sector for 30 years. This has created generations of Americans conditioned to cheap goods, which had led to a consumer first mentality. These countries do this because they have no labor laws like we do here that requires good wages, working conditions, and healthcare/benefits.
Would gladly pay more to bring back these jobs to the USA and stick it to the rest of reg shithole world.
Posted on 8/3/19 at 12:26 pm to NC_Tigah
frick CHINA
IB a chinaman will be here soon
IB a chinaman will be here soon
Posted on 8/3/19 at 12:30 pm to Covingtontiger77
quote:
Would gladly pay more to bring back these jobs to the USA and stick it to the rest of reg shithole world.
absolutely.
i have stated this here for ages.
PROTECTIONIST policies.
Posted on 8/3/19 at 12:31 pm to NC_Tigah
frick them and frick the manufacturers that took their business’ there because of their greed. When is enough enough? They said frick the American worker, I want a yacht. So frick them too!
Posted on 8/3/19 at 12:35 pm to KCT
quote:
Jorts Boy simply can't grasp.
You're imputing comments on China and trade to me now because I educated you on goodwill accounting on a wholly un-related topic?
That's the most pathetic thing I've seen in this board. What a sad sack of shite.
This post was edited on 8/3/19 at 12:38 pm
Posted on 8/3/19 at 12:37 pm to Jorts R Us
Stop buying Gillette.
Stop buying Tide.
Stop buying Crest.
Thanks for reminding me, Farts R Us.
Stop buying Tide.
Stop buying Crest.
Thanks for reminding me, Farts R Us.
Posted on 8/3/19 at 12:39 pm to KCT
How fricking pathetic do you have to be to completely make things up?
Sorry you couldn't hang, little guy.
This post was edited on 8/3/19 at 12:40 pm
Posted on 8/3/19 at 12:50 pm to BamaScoop
quote:
frick them and frick the manufacturers that took their business’ there because of their greed. When is enough enough? They said frick the American worker, I want a yacht. So frick them too!
I'm not quite that cynical, BS; I can remember when we all celebrated Toyota, as an option to the auto trash that our Union-monopolized Auto Industry was forcing down our throats.
And a lot of people were able to buy cheaper stuff that was equally as good as the more expensive American version, which were encumbered with higher wages, regulation, etc. I admire Third World peoples who are willing to work harder that our own somewhat spoiled citizenry, to better themselves and their families.
Where it all went wrong is when the Chinese started stealing our costly Research and Intellectual Property with zero respect for our investment and personal creativity. Of course, they are Collectivist...I.e., "you didn't build that". So...that clash is expected. But when China begins building Space Platform Weaponry, and building a Naval/Air Military with their 'stolen' largesse...well...that is red line. Trump has called this out, and now they will have to justify their action...or find other markets for their massive populous.
And a lot rides on how they deal with Hong Kong. What Other Market is going to trust and depend on a Nation that whacks it's citizenry if they dare to challenge the Totalitarian Yoke. "He that is faithful in little, is faithful in much".
China is in real trouble. And like Iran...well earned. Though I have hopes that both will step up and drop the Totalitarian Ideology. Hell, for that matter, I think the US will be moving toward Authoritarian Government in the near future. That is really the only controlled option when enough of the folk adopt polar Ideological beliefs.
Posted on 8/3/19 at 1:24 pm to Covingtontiger77
quote:
Would gladly pay more to bring back these jobs to the USA
No you wouldn't.
What manufacturing jobs are you referring to? Working in a 85 degree textile mill making $12 per hour?Sorry,nobody wants those shite jobs.
Amazing that people think that manufacturing is "dead" in the US when we're 2nd in the world in manufacturing products and services.
Posted on 8/3/19 at 1:40 pm to NC_Tigah
Is it too early to tell IB that I told him so?
Posted on 8/3/19 at 1:44 pm to RD Dawg
quote:
Working in a 85 degree textile mill
That's about what it runs where I work. Other places have been hotter. None outside the US. If you count external US projects...Argentina control rooms were kept at about 62, which was crazy.
Posted on 8/3/19 at 1:45 pm to NC_Tigah
Thailand, Vietnam and Malaysia are open for business.
This post was edited on 8/3/19 at 1:50 pm
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