US Giants’ Exit Hits China Hard: 1,500 Textile Factories Shut Down Overnight, Millions Lose Jobs
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Recently, news that Zhejiang Jiaxing’s long-established U.S.-owned company Kanglong Textile has halted production has drawn widespread attention. In early September, warning signs marked “restricted access” appeared in the factory’s production areas. The company’s U.S.-based executive gave workers a final farewell through an online video. After nearly 20 years of operations, the U.S.-funded denim fabric factory has officially entered its final shutdown phase.
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