Koh-i-noor to end production in China
Iconic Czech company Koh-i-noor says that after 11 years it is going to end some of its production in China and bring it back to the Czech Republic. Production in China is not as cheap as it once was and the company wants to safeguard its production at home. The decision has partly been prompted by the dramatic drop in sales to Russia, which is now struggling with its own economic problems and falling currency. Average wages in China have almost doubled in the last five years.