Kokusai Electric Plunges by Most Since Listing on KKR Sale Plan

Kokusai Electric Plunges by Most Since Listing on KKR Sale Plan

China’s landfills brim with textile waste as fast fashion reigns and recycling takes a back seat

At a factory in Zhejiang province on China’s eastern coast, two mounds of discarded cotton clothing and bed linens, loosely separated into dark and light colors, pile up on a workroom floor. Textile waste is an urgent global problem, with only 12% recycled worldwide, according to fashion sustainability nonprofit Ellen MacArthur Foundation. Nowhere is the problem more pressing than in China, the world’s largest textile producer and consumer, where more than 26 million tons of clothes are thrown away each year, according to government statistics.

Associated Press Finance

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