A worker assemble mirrors on cabinets at the Dicheng Technology factory in Hangzhou, China.
Photographer: Qilai Shen/BloombergEconomics
China Factories Go Into Overdrive But Exporters Are Not Happy
- Rising currency, shipping and labor costs are slashing profits
- Losses could dent Beijing’s hopes for 2021 factory investment
Clark Feng saw export orders for the garden furniture, swings and tents he sells out of China surge 70% last year as lockdowns and social distancing fueled demand. But he's not happy about it.
“The more you sell, the more you lose money, what’s the point?,” said Feng, who owns trading company Vita Leisure Co. in the city of Linhai in eastern China. “I don’t know who says we are beneficiaries. We are victims!”