WHY THE IPHONE IS KILLING THE SNEAKER INDUSTRY

At the end of the working week, sneakers, like any household item, will continue to be made where conditions tilt to the advantage of stakeholders. China, Africa or India... the average Joe Citizen could care less where their ‘stuff’ is made, as long as it remains cheap and plentiful.

Perhaps these dire conditions will prompt a renaisance in sneaker manufacturing in the US and Europe, but I wouldn’t count on this happening unless unemployment hits stratospheric heights, possibly higher than even Spain, where over 20% of adults are out of work. In the meantime, cash-strapped governments are imposing extra duties, especially when goods arrive stamped ‘Made in China’. In the United Kingdom, VAT also increased from 17.5% to 20% in January 2011, and it’s a sure bet that any nation with a consumption tax will be looking to increase revenue in a similar manner.

The end result? You guessed it...