It's Vietnam's turn to suffer from cheap Chinese goods
31 Aug '06
1 min read
Chinese cheap labour makes its garment products more competitive in global market and this time Vietnam is facing threats from the land of dragon.
Bankruptcy is looming over around 2,000 garment companies due to cheap Chinese products, informed Vice General Director of Viet tien Garment Company.
Workers of garment industry are shifting to better paying jobs as Chinese companies are moving their production facilities to poorer regions to reduce production costs.
Country's garment industry is second highest foreign revenue earners after crude oil.
If this trend continues, only bigger players would survive and small players either have to close down or to merge with giants.
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