China Toy Firms are the Latest to Suffer

Hit by the world economic crisis and new product regulations, Chinese toy companies are scrambling to stay viable. From Times Online:

One after another, once-bustling factories are falling silent and closing their doors while unsold consignments of toys rot in the autumn rains.

Businessmen travelling in the southern Chinese provinces say that entire industrial estates have turned into ghost towns as thousands of migrant workers who have lost jobs head back to the countryside.

The crisis among toymakers is the first visible evidence of the country’s rapid economic slowdown. “China’s economy relies highly on external markets,” said Li Chao, spokesman for the People’s Bank of China. “Recently China’s exports have weakened as a result of weak world demand.” The government said 3,631 toy factories, or about half the industry, has closed down this year.

Also see ABC News‘ “Myths and Misconceptions About Chinese Toys.”

CDT EBOOKS

Subscribe to CDT

SUPPORT CDT

Browsers Unbounded by Lantern

Now, you can combat internet censorship in a new way: by toggling the switch below while browsing China Digital Times, you can provide a secure "bridge" for people who want to freely access information. This open-source project is powered by Lantern, know more about this project.

Google Ads 1

Giving Assistant

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.