The Financial Crisis Has Been Made By The Dutch And OEM Shoemaking Companies.

The day before yesterday, Chao Gang Ling, Dean of the school of international business management, Shanghai University of Finance and Economics, said in an interview that the collapse of handsome companies was the extreme performance of the foundry enterprises which were generally affected by the current financial crisis. "Companies like the size of a company are unable to support it. The number of enterprises that collapsed before this is already amazing."

"The outbreak of the financial crisis is equal to the salt which is hard to heal in these OEM enterprises."

Chao steel pointed out that when the economic bubble has not yet burst, industrial enterprises are most likely to overestimate their liabilities.

After the outbreak of the financial crisis, "most of the foundry enterprises in the mainland have been trapped in the dilemma of capital being unsustainable."

Toys are traditional labor-intensive products, and the world's toy production accounts for 70% of China's toys.

Since the beginning of this year, domestic raw materials and labor costs have risen, RMB appreciation has accelerated, financing difficulties have been reduced, export tax rebate rates have been lowered, and foreign inspection fees have increased, resulting in large-scale collapse of Chinese toy enterprises.

It seems that the problem is not just handsome.

According to the monitoring report released by the General Administration of Customs on 13, the number of toy export enterprises in China dropped by more than 52% in the first 7 months of this year, of which the proportion of small enterprises accounted for more than 93%.

According to other data, China's toy exports to the United States have declined significantly due to the spread of the US subprime crisis.

In the first 7 months, China's exports to the United States decreased by 5.2% compared with the same period last year.

It is not just toy exports, but also other manufacturing industries that are affected by the financial crisis.

In Zhejiang, China, most manufacturers of luxury goods, such as clothing, shoes, leather, furniture and so on, are now facing the dilemma of no single connection.

In the Pearl River Delta, thousands of shoe companies have gone bankrupt or moved out.

Experts from the Institute of world politics and economics of the Chinese Academy of Social Sciences also report that China's export industry will face unprecedented difficulties from 2009 to 2010.

After the outbreak of the financial crisis, the scale of the real economy will inevitably shrink in the face of raising the difficulty of raising capital and raising the cost. This will lead to a series of other negative consequences. The possibility that the financial crisis will evolve into a comprehensive economic crisis is gradually increasing.