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Big Shift In China Economy To 'disrupt' Western Retailers: Li & Fung Head
2014-09-29 19:14:50| Logistics - Topix.net
China's role in supplying cheap consumer goods to the West could end in coming years due to rising domestic consumption and worker pay, stoking inflation and unsettling retailers in Western markets, the chairman of logistics group Li & Fung "China will disrupt the world," William Fung of Hong Kong-based Li & Fung, which supplies firms like Walmart Stores Inc China is a country that operates in economic cycles of 30 years, Fung said, and between 1979 and 2009, it had been the world's "factory" producing consumer goods at low prices, notably thanks to the low wages paid to its workers. "When China starts consuming and with India right behind it, I predict a round of price increases and margin squeezes," he Fung said.
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Category:Transportation and Logistics