Hong Kong drops out of world's top 10 busiest container ports
Hong Kong fell out of the world’s top 10 container ports last year, for the ...
More depressing news this week came out of Hong Kong, where sourcing giant Li & Fung, in the midst of a company transformation that is seeing it moving away from brands and increasingly become a pure supply chain player, reported a dip in annual profits as headwinds in Asia, Europe and the US continued – the latter accounts for 60% of its business. Its problems are partly company-specific: it relies too much on its traditional sourcing operations, which have little prospect of growth and appear out of touch in the e-commerce era. But there is also a wider malaise at work here.
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Alex Lennane
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