The wave of factory closures in China continues. Last year, news of the closure or relocation of foreign trade giants that had been in operation for decades was occasionally heard, and now, due to insufficient export orders and weak domestic consumption, leading to severe overcapacity, the manufacturing industry in China continues to face a harsh winter, with reportedly 90% of factories either closing down or falling into difficulties.
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No More Manufacturing in China? 90% of Factories to Close, Overcapacity Severely Damages Economy
