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This is CBS, I'm the world. I'm John Batcher with Gordon Chang, my friend and

colleague and we're looking at reshoring or offshoring or friend-shoring. The

factory floors from China given the risk of the confrontation with the people's

Republic of China and given the abuse of the Chinese people by the Masters in

Beijing. The electronic story, the Per River Valley, long told is China is a good

place to go for high tech, especially for what you need, car manufacturers,

electronic manufacturers. But now I learned from Bloomberg a surprising fact

about what our guest Charles Ortelle on the money with Charles Ortelle has

taught me to call the Rags trade, sometimes known as the apparel industry.

Bloomberg reporting, a record number of US fashion companies no longer list

China as their top supplier. 61% of apparel CEOs have stopped using China as their

primary supplier up from 30%. And the chart accompanying this says over the next

two years, these apparel companies sourcing value or volume expected

decrease their business in China by 78% and increase it in Vietnam, Bangladesh and

India. Charles, are you surprised by this because the legend has always been

China offers cheap, fast, effective supply chain, but no longer to all the

major apparel companies. Good evening to Charles.

Good evening, and I go and I it doesn't surprise me at all. I think in the

...