In the previous couple of years, the worldwide provide chain has been hit arduous by not solely the current pandemic but in addition by the commerce wars between the US and China. With the comparatively excessive ways in which China has been coping with these points, many international locations have realized the financial dangers in counting on China as time goes on. As such, quite a few overseas firms have been pulling out of China, going as an alternative to different creating international locations equivalent to Vietnam, India and Thailand.
On January 12, Canon, one other massive firm, introduced that they are going to be shutting down their manufacturing unit in Zhuhai, China. This was apparently attributable to heavy operational difficulties because of the extended outbreaks of COVID-19, which undoubtedly raised considerations from many Chinese language residents. As one of many earliest Corporations to have entered the Chinese language manufacturing market, the Zhuhai department has been in operation since 1990, having lasted 32 years. Through the years, the manufacturing unit manufactures all types of merchandise for Canon, from lenses to completely different electronics like printers, cameras and camcorders.
It’s price mentioning that in 2013, this manufacturing unit was not too long ago upgraded with an funding of $1.5 billion yuan, growing its manufacturing capability by twofold. On the time, it was one among Canon’s largest abroad factories, using over 10,000 staff and capable of produce as much as 20 million cameras a 12 months.
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