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Date:
25th February, 2017
Time:
Venue:
CGTN

Will Trump’s protection unexpectedly bring China golden time since a lot of foreign companies are leaving China

 

Russell Brown OBE, Managing Partner at LehmanBrown International Accountants and former Chair of BritCham, was invited on to CCTV to discuss whether Trump’s protection will unexpectedly bring China golden time since a lot of foreign companies are leaving China.

Russell Brown responded the question by citing the fact that LehmanBrown is now the busiest it has ever been because of foreign companies are leaving China.

He said that what we found the rebalancing of economy is that companies may be in low production or companies are finding that their cost base is getting very high because of the increase of raw materials, labors or various other regulatory aspects. Finding either their companies uncompetitive or part of the business model de-risking, when they are putting parts of or all of the manufacturing out of China, or possibly outsourcing the manufacturing, and just sourcing and using sales offices to sell overseas-produced product into China. So it’s part of the restructuring or general de-risking, liquidating, probably more companies have ever done in last 15 years.