China Woes Push Canadian Importers to Seek Sourcing Options

Companies are searching for other countries to source some of their goods due to economic instability in China

The Canadian Press

MontrealSept. 15, 2015—Economic challenges in China appear to be putting pressure on Canadian companies to search for other countries to source some of their goods.

"For the first time in almost a decade, we have heard customers say they are going back to older sources (of goods)," says Robert Cutler, CEO of Delmar International, a shipping company.

Canadian customers are closely watching China's economic slowdown, currency devaluation and stock market volatility.

The fall of the renminbi to its lowest level since mid-2011 reduced the cost creep of Chinese-made goods. But it's also cut the value of foreign investments in the world's second-largest economy.

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