The scene of the Chinese manufacturing sector seems to be in trouble. As reported in this video, several industries producing goods, such as...
The scene of the Chinese manufacturing sector seems to be in trouble. As reported in this video, several industries producing goods, such as furniture, textiles, home appliances, etc., are now facing a closeout in the Guangzhou region, which were mostly exported to the Western countries.
The video narrates how loads of pieces of fabric that were still being sewn hang from the sewing machines. The warehouse is full of raw materials, and there are some finished sofas and other furniture lying around. The place looks deserted and sad. The person who posted the video said, "The factory shut down, and the owner moved on. After struggling year after year, they still couldn’t make it. This is how tough the furniture industry is right now."
The USA's tariff on imported goods, especially from China, now faces a huge 240% import duty, which makes it unviable to be sold there. The economic warfare was definitely intended to cripple the Chinese economy, as the USA felt threatened by China's move in the larger part of the world.
Many workers & staff are now reporting the ground reality with on-floor videos about the situation there and how to deal with the crisis, which is inevitable. Many owners of the factories have been reported to have sold off the machinery & fled from the region.
What Trump did to the USA's economy could now have repercussions across the global economy and eventually come back to hurt them bigger than before. Since international trading is crucial for global economic sustenance, the USA and its allies will not be able to escape the burden.
And it is not just the consumer sector that is affected; even the commercial & industrial sector is feeling the heat.
Like in any war, who wins at the end? Nobody!
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