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China is flooding the developing world with cheap goods. Governments say the imports are undermining domestic industries. This could impact China's bid to lead the so-called "global South" of ...
Yiwu International Trade City (Chinese: 义乌国际商贸城), also known as the Yiwu Market, is the primary wholesale market complex in Yiwu, Zhejiang, China. According to the World Bank, it is the world's largest small commodities market. [3] [4] In 2022, the market sold around US$70 billion of goods. [5]
Many sweatshops are located in China; there, workers are underpaid and overworked in unsafe environments. Overall, China produced 65% of the world's clothing in 2021, [2] with a majority of these clothes being labeled as fast fashion. The top 10 competitors in the fast fashion market made up 29.13% of the whole fashion market in 2020.
Until 2017, China was also a major destination for used clothing sorting, recycling, or disposal. However, in that year, China banned the import of used clothes. [6] As China has become wealthier, it has emerged as a significant source of clothing exports, contributing 6.4% of the world's total in 2015. [6]
11. Marubeni. Total revenue of the company in 2019 (in millions of dollars): 62,799. Total profit of the company in 2019 (in millions of dollars): -1,816
Apart from labor, capital - still relatively cheap in China - will also become more expensive as policymakers move the country toward interest rate liberalization. [7] Material costs, too, will continue to rise and will reach global levels. As the economy slows down, it becomes harder and harder for companies to pass on the costs to customers.
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