Chinese toymakers shift overseas as trade war bitesFactory rents in Vietnam surge on rising demand for space
NIKKI SUN, Nikkei staff writer
FEBRUARY 05, 2019 12:33 JST
https://asia.nikkei.com/Economy/Trade-War/Chinese-toymakers-shift-overseas-as-trade-war-bites2HONG KONG -- Toymakers are stepping up efforts to diversify beyond China to combat rising costs and the looming possibility that the U.S., the industry's biggest buyer, will impose punishing tariffs on toy imports.
Vicky Tong, a director at the Business Association of China in Vietnam, said the office responsible for Guangdong, where many Chinese toymakers are based, saw a near trebling of visits last year from companies looking for production facilities in the country.
Jerry Gou, who heads a toy manufacturer based in the southern Chinese city of Suzhou, is one toymaker who has realized the advantages of having factories outside China. At the annual toy fair in Hong Kong recently, he sought to attract international buyers by decking out his booth in banners promoting its factories in Vietnam and India.
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