Part 3/8:
China's manufacturers are at a crossroads. The recent imposition of tariffs as high as 245% on Chinese goods by the U.S. has had a crippling impact on their operations. Many factories are either shutting down or pivoting their focus from exports to domestic sales. This shift has resulted in intense price wars, further damaging already weakened profit margins. The Goldman Sachs estimate predicting the potential unemployment of up to 20 million individuals due to these tariffs underscores the severity of the situation.