Walmart’s Supplier Says Chinese Factories in ‘Desperate’ State

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.

 

 

 

 

 

 

 

 

 

 

https://www.bloomberg.com/news/articles/2019-07-09/trade-war-threatens-chinese-factories-existence-li-fung-says?cmpid=BBD071019_TRADE&utm_medium=email&utm_source=newsletter&utm_term=190710&utm_campaign=trade