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Between 2000 and 2007, US manufacturing jobs fell sharply, from 16.9 million to 13.6 million. The 2008 financial crisis pushed the number lower, to 11.2 million, although the number has since been fairly stable. Trump and trade: A radical agenda? Workers making clothing and electronic goods were among the worst affected. It is difficult to settle upon an exact figure, but some economists think that 40% of these job losses can be linked to Chinese imports. However, the influx of cheap goods also created non-manufacturing jobs in the US, because consumers had more money to spend on other things. That boosted healthcare, entertainment, travel, and leisure. So, think of the trade deficit destroying some jobs and creating others. Open the gates So, what can President Trump do about the trade deficit?
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Coming back to the aforementioned deal, ZALORA will start selling Abercrombies Hollister brand merchandise via its online stores from next week. Notably, Hollister is the companys best performing brand at present. This was evident when solid Hollister brand performance in fourth-quarter fiscal 2016 provided some respite to the otherwise dismal results. Further, management expects continued strength in Hollister and improvement in the companys namesake brand to fuel comparable store sales in fiscal 2017. Talking of the namesake brand, products of Abercrombie & Fitch are also expected to be launched at ZALORA toward the end of April. Clearly, the company is going all the way to boost its presence in the online shopping world. ZALORA, a nearly five-year old fashion destination, has robust geographical reach with its presence in 11 countries, including Singapore, Indonesia, Malaysia & Brunei, the Philippines, Hong Kong and Taiwan. Moreover, ZALORA offers several lucrative benefits to customers, like super fast deliveries and free returns up to 100 days, which enhance their experience and attract more traffic. Thus, we believe that this collaboration is likely to benefit Abercrombie substantially as it will have an access to over 600 million online customers of ZALORA, given the latters solid network and popularity.
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