BIG MULTINATIONAL COMPANIES MOVING OUT OF CHINA…

Adidas

Like Apple, Adidas also felt the impacts of Vietnam’s rising COVID-19 infection rate, which has stalled production since mid-July and is expected to cause losses of up to $600 million (£431m) during the latter half of 2021. Adidas also saw its sales plummet on Chinese ecommerce giant Alibaba after the company took a stand against the treatment of Uyghurs in the Xinjiang region. In April, sales dropped 78% compared to the same period in 2020, according to Morningstar Inc.

Article: https://www.lovemoney.com/galleryextended/98705/big-multinational-companies-moving-out-of-china?page=6

 

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