MoneyWorld’s Top Bicycle Maker Says the Era of ‘Made in China’ Is Over
China a benevolent tyranny: Barnaby Joyce
Former Nationals leader Barnaby Joyce has described China as a benevolent tyranny, and argued Australia must be its trading partner, not its servant. Former Nationals leader Barnaby Joyce has described China as a "benevolent tyranny" and argued Australia must maintain a "wide-eyed view" of where the world is going. "They are not a democracy - they're basically a benevolent tyranny," he told the Seven Network on Monday. "I think Australia has to obviously recognise the economic strength and trade with them, but we want to trade with them as a partner, not as a servant.
Giant Manufacturing Co. saw the writing on the wall early on. The world’s biggest bicycle maker started moving production of U.S.bound orders out of its China facilities to its home base in Taiwan as soon as it heard Donald Trump threatened tariff action in September.
“When Trump announced the plan of 25 percent tariffs, we took it seriously,” Chairwoman Bonnie Tu said in an interview at Giant’s Taichung City headquarters in Taiwan. “We started moving before he shut his mouth.”
Giant is part of a growing number of global firms that are pivoting production out of China in reaction to the increasingly hostile trade relations between the two superpowers. Intel Corp. this week became the latest to say it’s reviewing its global supply chain, while Li & Fung Ltd., the world’s largest supplier of consumer goods, said the trade war is spurring it to diversify away from China.
Australia's Warner says wife is 'my rock' after World Cup hundred
David Warner said wife Candice had been his "rock" and the driving force behind his return to Australia duty after the opener scored his first international century since a ball-tampering ban during a World Cup win over Pakistan.
“Last year, I noticed that the era of Made In China and supplying globally is over,” Tu said. The maker of mountain and racing bicycles closed one plant in China at the end of 2018 and shifted most U.S. orders out of the country. Giant announced last July it is setting up a factory in Hungary “as moving production close to your market is a trend.”
Giant currently has one plant each in Taiwan and the Netherlands, and still has five remaining in China. The Taiwanese site will be working double shifts to keep up with the relocated orders. The company said it is seeking a partner in Southeast Asia.
“The world is no longer flat,” said Tu, borrowing from Thomas Friedman’s book “The World Is Flat,” whose title in a metaphor for viewing the world as a level playing field for companies and trade. “The concept is no longer affordable in every place.”
NASA says now is a great time to leave Earth
When you're planning on taking a trip it pays to plan ahead, and one of the first things you should do is check the weather forecast. The same is true for space travelers, and with so many missions in the works, NASA is now gazing ahead to see what the space weather forecast is looking like for the upcoming decade, and things appear to be shaping up rather nicely.
Giant’s willingness to quickly steer orders away from the tariff-hit Asian nation - long regarded as the world’s low-cost workshop - has been noticed by investors and analysts. The stock, which doesn’t carry a single sell rating from brokerages tracked by Bloomberg, has climbed 78 percent this year to become the top-performing company among global peers, after four straight years of decline.
“We see its global brand awareness as the main barrier for new entrants, and its flexible manufacturing sites as key to avoiding tariff risk on made-in-China products from the U.S. and Europe,” Daiwa analysts Helen Chien and Anita Li wrote in a June 5 report, in which they initiated coverage of Giant with an outperform rating.
Tariffs are adding $US100 ($AU146) on average to the price of bicycles made in China and exported to the U.S., compared with those made in zero-tariff areas, Tu said, explaining the rationale for the switch to the Taiwanese site.
China’s history of extraordinary rendition
Protests in Hong Kong over proposed changes to the extradition law follow reports of China illegally removing its opponents.
The switch, however, comes with higher costs for employee payouts, automation and no China-like economy of scale for suppliers. Tu declined to peg the relocation costs beyond saying the company’s “bottom line would be better without the U.S.-China trade war.”
That’s why Giant is open to reverting production to its Chinese plants if the U.S. and China are able to hammer out a trade deal. If America “decides to remove the 25 percent tariff, we will move the production back to China right away,” Tu said.
New Zealand won't panic after World Cup defeat, says Vettori.
Former captain Daniel Vettori said New Zealand would not panic after Kane Williamson's side suffered their first defeat of the World Cup against Pakistan.
World's top bicycle maker: Era of 'Made in China' is over
World's top bicycle maker: Era of 'Made in China' is over Giant Manufacturing Co. saw the writing on the wall early on. The world's biggest bicycle maker started ...
China's Bicycle sharing WENT INSANE!
Everyone loves China's innovative bike sharing schemes... Well they used to! People still love to ride them, but new companies are flooding the market and the ...