U.S. companies fear the Chinese New Year

As the Chinese workers prepare for a 15 day national holiday, American retail sales are already suffering due to delayed shipments of merchandise from manufacturing facilities in China. Adding to their frustration is a workforce shortage caused by an increased cost of living that is prompting Chinese workers to pursue higher paying jobs. According to Pratap Mukharji, a partner at Bain & Company, "China is no longer the lowest-cost, "infinite supply" sourcing destination for many American companies."