Billion-Dollar Foreign Firms Flee China for Southeast Asia & India, Leading to Layoffs & No Orders
Following China's rapid economic growth after joining the WTO with the help of the United States in the 1990s, the country has relied on its demographic dividend and low-cost "Made in China" manufacturing to become a well-known world factory. However, in recent years, Chinese authorities have been tightening regulations, and with political uncertainties, foreign investments have been fleeing China. Many companies have shifted their focus to Southeast Asia and India. This year, Sony has completed the transfer of its camera production line in China and relocated its main factory to Thailand.
Looking back at 2009, Nike drew worldwide attention when it closed its only directly operated factory in China. Over the past 15 years, there have been almost continuous announcements from foreign companies leaving China. The following is an incomplete list of foreign companies that have transferred or exited the Chinese market from 2009 to the present
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