China’s good life product manufacturing company has filed for bankruptcy, as its business model was based on using imported materials.
The company has reportedly relied on the China Good Life Supply Company (CGSCo) to ship products from China, while relying on the company to import products from the United States.
As a result, China has become the biggest market for Good Life products.
“Good Life is not only the leading supplier of Good Life, but also has the greatest amount of experience in the field of Good Home, Good Life apothecarists, and Good Life construction,” according to a report from The Wall Street Journal.
“In order to stay afloat in this new environment, the company will have to find alternative sources of supply and services to meet its obligations in China.”
The CGSCo’s website states that “all of our products are manufactured in China by Good Life Suppliers in accordance with the strictest quality standards and strict safety protocols.
The quality of our product is the highest in the industry.
We are proud of this achievement.”
A source close to the company told Business Insider that Good Life “has to close” as it does not have a “full inventory of goods” in China.
China’s export of products to the United State continues to be a major concern for the United Kingdom.
Last year, Britain exported $5 billion worth of goods to China.
However, in May, the United Nations’ trade watchdog said that the U.K. is not yet in compliance with the global trade agreement.
However a spokesperson for the U:Trade, which represents U.S. goods exports to China, said the U-turn was “a temporary setback and we will continue to work with our U. S. partners to work out a way forward.”
The UK’s trade and investment relations with China have also been strained over its trade policies.
In December, the British government voted to leave the European Union.
China has since followed suit, and has taken to banning British goods from its domestic markets.
On Monday, Britain’s Prime Minister, Boris Johnson, called the decision a “disloyal move” and called on China to change its stance.
The U.N. trade watchdog called on Britain to “immediately cease all trade activities with China, immediately impose sanctions on China and make it stop all activities that have contributed to the growing trade deficit with China.”
According to Business Insider, the U., British and European governments have been trying to work together to combat the rise in trade with China and boost trade with other nations in the region.
Johnson also recently said that he would consider imposing tariffs on Chinese goods that are exported to the U, but it remains unclear if any such tariffs have been proposed.