CHINA GARMENT MAKERS MOVE OUT, OR MOVE ONLINE
March 1st, 2016
ONCE clothing sourcing was all about China. No longer. Recent years have seen a continuous decline in China’s export industry, especially in labour-intensive sectors such as clothing and shoe manufacturing, because of rising labour costs and an appreciating Chinese Yuan Renminbi (CNY or RMB).
2016 does not look any better.
According to China Customs, clothing exports in January and February 2016 dropped 11.8% year-on-year to CNY157.05 billion (USD24.1 billion), and textile exports fell 9.3% to CNY100.5 billion (USD15.4 billion).
Struggling, many big Chinese ...
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