I’ve been saying for some time that China is going to be in big trouble…I think that with these stats not much more needs to be said….
The official Xinhua News Agency reported this week that 3,631 toy exporters — 52.7 percent of the industry’s enterprises — went out of business in 2008.
Factory closure in China a sign of global woes, CNN, October 2008
It’s also fascinating to watch how the world is getting increasingly angry at the US for the crisis .. without taking responsibility for their own complicity … economic responsibility has been absent for quite some time around most of the globe, not just the US and the repercussions for that kind of behaviour are always going to come home to roost at some point… it’s somewhat disingenuous to blame the country that falls first
…the assembly line worker was also furious at the United States.
“This financial crisis in America is going to kill us. It’s already taking food out of our mouths,” the 42-year-old laborer said Friday as he stood outside the shuttered Smart Union Group (Holdings) Ltd. factory in the southern city of Dongguan.
