Why the Chinese economy faces a perilous road to recovery

Why the Chinese economy faces a perilous road to recovery

Klaus Zinkel, head of the chamber’s South China branch, said many European manufacturers in China were forced to work with about half of their usual staff for two to three weeks, which affected production to some extent. As a precaution against lockdowns, many companies had stockpiled spare parts in warehouses before the Covid wave and relied on those warehouses to continue operating.

But to save costs, a few small suppliers of certain ingredients have halted operations early for the Lunar New Year holiday, which begins on January 1. 21. “Everyone managed to carry on in some way, to keep the damage to a minimum,” mr. Zinkel said.

The damage done by Zero Covid to China’s previously unbeaten appeal as a manufacturing hub may be difficult to repair.

Lockdowns and border closures slowed or disrupted the delivery of goods and prevented many companies from sending buyers to factories. Some global retailers, seeing the danger in over-reliance on China, have instead turned to other countries for supplies. Wal-Mart, for example, Plan to ramp up Imports from India to $10 billion annually by 2027.

Even Chinese exporters are trying to diversify.

In Yangjiang, Velong Enterprises, a Chinese maker of knives, grill thermometers and other kitchen gadgets for Walmart, Ikea, Target, Carrefour and other retailers, is expanding operations in Cambodia, Vietnam and India. Co-founder and co-CEO Jacob Rothman said the company has reduced its workforce in Yangjiang from 1,700 to 1,200 through attrition and is examining potential factory locations from Mexico to Turkey.

Companies like Velong find some savings when they venture out. The company pays workers in Cambodia half as much as its workers in Yangjiang.

Leave a Reply

Your email address will not be published. Required fields are marked *

redtubetamil pornude.mobi freeindianporn
horse sex clips wetwap.info bp
kannar booketube.mobi lunki
the boobay and tekla show tvteleserye.net a family affair august 3
indian fuc zambibo.mobi vasxxx
kannada fuck video porncorntube.net old movies telugu
blood sex movie momyporn.mobi keralasexygirls
arram full movie sfico.info beegcom
xxxxxxvibeo captaintube.info hot indian xvideos
the broken marriage vow may 6 2022 full episode superpinoy.net gmanetwork com maria clara at ibarra
vijayawada sex com dunato.mobi www.indian sex vedios.com
indian deshi sex indianhottube.com boor sexy
sister cleaire hentai-site.net dressblackheulee
نيك اغتصاب عنيف freearabianporn.com اجمل نيك فى الطيز
xhamster incest hotindianporn.mobi sivi tamil movie free download