After smaller businesses, fortune 500 companies also start wrapping up their businesses in China
Source : Nation
World News
Foreign Fortune Global 500 companies such as Samsung, Toshiba and
Ericsson are swiftly withdrawing from
South Korean
shipbuilder Samsung Heavy Industries Company (samsung heavy) is withdrawing
capital from its shipbuilding plant in
thousands from
September 8 employees
The protesters had banners in their
hands which read “Samsung is my home, I want to work! I need to support my
family!” And “Government ‘Empty the cage and replace the bird,’ Whereas
the employees get the least.”
“I want to eat [live]!” workers Screamed.
“empty the cage and replace the birdIt
is an industrial restructuring strategy of the Communist Party of China (CCP)
proposed by Wang Yang, the then party secretary of Guangdong province in May
2008, indicating the relocation or elimination of some industries in the region
and the replacement or upgrading of other industries in the same region. Area.
a documents from the local
government, and broadcast online, said the
Mr. Zhang, an employee of Samsung Ningbo
Shipyard, said The Chinese edition of The Epoch Times said that on
September 12, dozens of special police arrived at the rally site and there was
no clash between police and staff.
In fact, in early 2020, the workers had
heard that the government was going to take over the land. “Samsung Heavy has
withdrawn its investment this time because the
“
“Although the authorities did not prompt
people to boycott Samsung, it was a proxy boycott and expulsion,” the Chinese
financial media blogger said.financial cold eyeIn a YouTube video on September
11th.
Toshiba and Ericsson are closing in on
two cities
Apart from Samsung, Japanese
electronics giant Toshiba and Swedish telecoms gear maker Ericsson is also
closing its companies in
Japanese electronics giant Toshiba willHutter
own factory in the northeastern city of
A Chinese financial media Caijing said
on September 11 that Toshiba . the servant employees
Toshiba Dalian was founded on 25
September 1991. When the company closed, it would have reached its 30th
anniversary.
Swedish telecommunications equipment
maker Ericsson is closing its R&D center in
In early July, Ericsson released its
second-quarter 2021 financial report, indicating that sales were down more than
60 percent year-on-year, resulting in a year-on-year increase in total revenue,
according to data from Caixin. – A decline of 1 percent year-on-year. Financial
media in
Chinese economic stats forged
Fortune Global 500 set to withdraw
more foreign investment from China
Following the outbreak of the US-China
trade war, as well as the impact of the COVID-19 pandemic, the global supply
chain has seen the importance of disconnecting from the CCP. “It is now a major
trend for foreign companies in the Fortune Global 500 to move their industrial
chains out of
Japanese Panasonic Group will close its
battery plant in
IBM closed a research institute in
Apple, Microsoft and Google plan to move
their production lines to other parts of Asian countries such as
And global consumer electronics makers
HP, Dell, Microsoft and Amazon are all looking to move substantial production
capacity out of
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