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UK:Retailers exiting China? |
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2005-9-1
Currently, even as the US and the EU have been negotiating with China over the textiles restrictions due to unprecedented surge in their imports from that country, the retailers from these and other countries seems to move out of China.
Media reports from UK suggests that leading UK retailer British Home Stores (now BHS) Chief Phillip Green plans to stop sourcing textiles from China.
The retailer is likely to source its requirements from Turkey, Eastern Europe and India.
In fact, media sources cited Green saying that BHS had stopped production since December, last, and was moving to Turkey and Eastern Europe.
Reason for the choice falling on Turkey or Eastern Europe is not far fetched, and is only due to their proximity with UK.
As the blockade of Chinese imports continues, retailers have been fearing depleting stocks and have already started seek other sources of replenishing their stocks from Bangladesh, India, Pakistan, and other Asian countries.
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