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Olympics drive up travel costs
So the eagerly awaited Olympic Games are almost here. Eight is the lucky number in China so the date of 08/08/08 is a significant date for the start of the games.
Production is slowing down during this time, security has increased time at airports and travel costs are up in the major Olympic cities of Beijing, Qing Dao (sailing) , Shanghai (soccer), and Hong Kong (equestrian).
The purchasing price index (PPI) has risen again in China, with probable outcomes of price hikes further down the supply Chain. Energy costs have increased, for electricity especially, providing increasing pressure on manufacturing.
Many are waiting until after the games to see what is going to happen with inflation, currency strength, and general GDP numbers. The Renminbi (RMB) may go as far as 6.5 to the U.S. dollar, which will significantly increase the cost of goods for export to the U.S. Could it go more? Your guess is as good as mine.
Production for major hard goods is doing very well, but soft goods production is suffering a major downturn with many factories closing due to the lack of competitive pricing and the increasing labor and energy costs.
Olympics drive up travel costs
July 29, 2008
So the eagerly awaited Olympic Games are almost here. Eight is the lucky number in China so the date of 08/08/08 is a significant date for the start of the games. Production is slowing down during this time, security has increased time at airports and travel costs are up in the major Olympic cities of Beijing, Qing Dao (sailing) , Shanghai (soccer), and Hong Kong (equestrian).
The purchasing price index (PPI) has risen again in China, with probable outcomes of price hikes further down the supply Chain. Energy costs have increased, for electricity especially, providing increasing pressure on manufacturing.
Many are waiting until after the games to see what is going to happen with inflation, currency strength, and general GDP numbers. The Renminbi (RMB) may go as far as 6.5 to the U.S. dollar, which will significantly increase the cost of goods for export to the U.S. Could it go more? Your guess is as good as mine.
Production for major hard goods is doing very well, but soft goods production is suffering a major downturn with many factories closing due to the lack of competitive pricing and the increasing labor and energy costs.
Posted by Walter E. Buczynski, CPSM (Certified Professional in Supply Management) on July 29, 2008 | Comments (0)
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