Cheaper Exports? Not So Fast
When East Asia's currencies started crashing last summer, Vigor International President Wang Yu-len smelled opportunity. Like many Asian middlemen who export garments and handicrafts to big retailers in the U.S., Taipei-based Vigor had been relying heavily on low-cost factories in China. With the Indonesian rupiah, Thai baht, Malaysian ringgit, and Philippines peso all suddenly trading at less than half their old values against the dollar--while China's renminbi remained stable--Wang figured Southeast Asia would be awash with bargains.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.