摘要
Feng Zhenyuan is a merchant selling knives and scissors in Yangjiang City,Guangdong Province.After over a decade of experience in the industry,he operates his own production facilities and distributes through multiple e-commerce platforms including Pinduoduo,a Chinese online retailer whose main appeal is its shockingly low prices.“Pinduoduo has been relentlessly seeking low prices,”said Feng.“Many products claiming to be Yangjiang knives are priced 20 to 30 percent lower than genuine ones,leaving local merchants grappling with‘Gresham’s law,’which is about bad products driving out the good.”Feng added that about 30 percent of the factories in the Yangjiang knife and scissors sector have closed down,causing significant harm to this major pillar supporting local traditional industries.
