Many times, importers ask me "how to control production better?", and they proceed to give me examples of the recent issues they have had with their current Chinese supplier. And I often tell them "switch to a better supplier". Now, making a switch is not always easy. It takes preparation. On the one hand, a new factory has to be identified and vetted. They need to be onboarded and trained to your requirements. They probably need to find sources, they may need to adapt their internal … [Read more...]
Some Chinese Factories Are Going Bankrupt: How To Know Which Ones
Some Chinese factories have suffered serious blows recently. Large American companies are moving manufacturing outside of China, often abruptly. Many manufacturers were hit in 2020 by very soft demand and cancelled orders. Their government is becoming more serious in getting taxes paid and regulations complied with. And so forth. The logical conclusion? Many factory owners who have accumulated debt and don't see the light at the end of the tunnel are tempted to go out of business. If … [Read more...]