Part 3/16:
The manufacturing sector in countries like Indonesia and Malaysia faces mounting challenges. Taking Sritex, one of Indonesia's largest textile companies, as a case study, the narrative is grim. Once boasting a workforce of 50,000 and achieving nearly $1.3 billion in sales in 2020, Sritex is now battling a crisis. The flood of Chinese textiles has resulted in market share loss, leading to layoffs affecting around 250,000 workers—around 800,000 people in total impacted across the industry.