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China’s manufacturers feel the pain of Ukraine crisis as customers have ‘no desire to pay’
China is the largest trading partner of both Russia and Ukraine, but sanctions from the US and its European allies are being felt by customers in both countries
Commerce Minister Wang Wentao said on Tuesday that China was hoping to ‘promote our normal trade’ with both Russia and Ukraine
Manufacturers in China are starting to feel the pain of the unfolding crisis in Ukraine as financial sanctions placed on Russia have started to filter through to export customers.
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“My Ukrainian and Russian business has been directly impacted,” said Bob Yao, co-founder of a digital printing production company in Guangdong province.
“We lost contact with my Ukraine client. And another Russian customer sounded no desire to pay and let us deliver goods all at once because the rouble has been devalued.”
