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Li & Fung: Battling the Global Supply Chain Challenge |
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INTRODUCTION |
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In March 2019, global supply chain giant, Li & Fung Limited (Li & Fung), announced that it would source less than half of its goods from China for the year 2019. Li & Fung attributed its decision to rising manufacturing costs in the country and the heightened trade restrictions between China and the US. The Sino-US trade war began in July 2018 with the US imposing tariffs on Chinese goods worth US$34 billion. This was a bid by US President, Donald Trump (Trump), to dissuade American consumers and businesses from buying products from China. China retaliated by imposing 25% tariffs on US$34 billion worth of US goods. .. |
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