Pressure on China’s factories grows as U.S. demand falls
Written by Black Hot Fire Network on February 9, 2023
- All the factories that U.S. toy company Basic Fun works with in China told workers not to return right after the Lunar New Year holiday, said CEO Jay Foreman.
- That's because there was a flood of inventory in the first half of last year that didn't get sold as consumer prices in the U.S. surged over the summer and into the fall, he said.
- For China's domestic economy, the drop in overseas demand reveals a more widespread . . .
