World's Largest Supplier Of Consumer Goods Warns Chinese Factories In "Urgent And Desperate" Shape | WHAT REALLY HAPPENED


World's Largest Supplier Of Consumer Goods Warns Chinese Factories In "Urgent And Desperate" Shape

The largest supplier of consumer goods in the world - China's Li & Fung - has said that Chinese factories are becoming "urgent and desperate" as US retailers move out of the country amid the ongoing trade war, according to Bloomberg, and more factory shut downs are likely to follow as the trade war continues.

Companies like Li & Fung Ltd., which designs, sources and transports consumer goods from Asia for some of the world’s biggest retailers, are being pushed by their American clients to shift production out of China.

Spencer Fung, chief executive officer said: “U.S. clients are definitely very, very worried. 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.”

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