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China’s home appliance manufacturers left cursing export orders as costs rise, profits vanish amid yuan rally

Summary:
[unable to retrieve full-text content]Faced with a perfect storm of a strong yuan and the rising cost of raw materials, China’s home appliance manufacturers are fearful of booming exports orders caused by the coronavirus as profits decline, leaving some on the verge of bankruptcy.On one hand, overseas demand for appliances is rising amid lockdowns and work from home arrangements in the West, but on the other, firms are seeing profits vanish as the Chinese yuan continues to rise, meaning they will receive less for the orders which…

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[unable to retrieve full-text content]
Faced with a perfect storm of a strong yuan and the rising cost of raw materials, China’s home appliance manufacturers are fearful of booming exports orders caused by the coronavirus as profits decline, leaving some on the verge of bankruptcy.On one hand, overseas demand for appliances is rising amid lockdowns and work from home arrangements in the West, but on the other, firms are seeing profits vanish as the Chinese yuan continues to rise, meaning they will receive less for the orders which…

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