What Southeast Asia’s manufacturers stand to lose as US-China tariff war hits region

The overall number of workers affected by other businesses imposing paid left or reducing the number of working days or hours, according to Redma Gita Wirawasta, the agency’s chair.
Yet Sri Rejeki Isman, the biggest textile company in Indonesia, saw its fortunes drop. It posted a gross income of US$ 85 million in 2020, surpassing the US$ 1.3 billion in sales that year. However, it stopped operating after filing for bankruptcy in March, leaving about 10,700 people without jobs.
Because of the influx of Chinese materials into the business, Redma claims, adding that the competition exists in both the domestic and export markets.
” We are aware that some companies, like Mango, Zara, Nike, Adidas, H&, M,” had to reduce output in Indonesia because they must also contend with Chinese goods in the US and Europe.