VIDEO: 90% Of Chinese Factories To Close? “At the start of the year, there were almost no new orders. The old customers who used to order every month also significantly reduced their orders. The entire industry had fewer orders than during the 3 years of the epidemic.”
Nine out of ten factories closing seems more than a little extreme. But scenes like this one are becoming more common: Apple’s iPhone factory shift has left a ghost town behind in China.
UPDATE (FROM GLENN): Related flashback to November of 2019: How to Conduct Business with Chinese Companies That See a Dark Future.