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Shoe Industry under Pressure Amid Rising Costs Rising costs have forced about 15 per cent of shoe manufacturers in a major south China industrial centre
"Shoe Industry under Pressure Amid Rising Costs" Rising costs have forced about 15 per cent of shoe manufacturers in a major south China industrial centre to shut down or relocate in the past year... [the firms have] identified rising wages as a key factor behind the closures and relocations from Dongguan..The problems in the footwear industry reflect broader issues affecting manufacturers across China's Pearl River Delta..." www.ft.com, 2/26/2008 Using an AS/AD framework to describe the events in the story, there would be a O a. rightward shift in the SAS curve. O b. rightward shift in the AD curve. O c. leftward shift in the SAS curve. O d. leftward shift in the AD curve
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