At southern Chinese Christmas tree maker Golden Arts Gifts & Decor, the mood is anything but festive.
With freight costs rising due to attacks on Red Sea shipping by Yemen’s Houthi militant group, manager Richard Chan said this year was shaping up to be one of the worst in his more than two decades in the industry.
“We are not talking about making a profit this year. We just need to survive,” said Chan. “The Red Sea crisis has been such a headache.”
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