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| Terry Gou |
The Taiwanese firm Hon Hai plays a key role in the manufacturing of Apple products, Dell laptops, and Sony TV. The enterprise is a 71% owner of Foxconn, which has been accused of creating inhumane labor conditions in its factories in the People's Republic of China. Recently, Hon Hai's chairman,
Terry Gou, expressed a decidedly pessimistic take on global economic prospects.
According to a story in the Financial Times, Gou said "the only certainty is that there will be a (global) recession, of a scale I have never seen since I entered business."
When someone with insight into the manufacturing volumes and needs of the world's hottest tech products speaks, it's worth considering what has been expressed. And what Gou said is very grim news indeed, coming on the heels of Europe's economic troubles and a still very uncertain United States. One shock, one black swan event, could send the whole house down again, 2008 style.
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