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A company boss told employees that in south China, 80 percent of private companies rely on exports to survive. Now that these companies are losing their overseas customers from Europe and North America, a huge wave of layoffs is foreseeable. - As long as the United States is struggling to combat the pandemic, there will be no improvement for China’s economy. Our business model is to produce about 85 to 90 percent of our products for export. In south China, 80 percent of private companies rely on exports, just like our company. How can we ever rely on China’s domestic demand? All our production is geared for export.No export means bankrupt factories. Bankruptcy means the Chinese will become jobless and not have income. It’s a chain reaction. Make sense? The current economic situation is very severe. Any company that can still pay regular salaries to its employees is simply outstanding!
