Crisis Plays Havoc with China’s Toymakers

From Asia Times:

China’s decision on Tuesday to raise export tax rebates on toys, garments and more than 3,000 other products to help the labor-intensive export-oriented industries mitigate the impact of the global economic slowdown, came after several several Hong Kong-invested factories fell victim to shrinking United States and European Union markets.

The failure of factories in Guangdong’s Pearl River Delta area, such as two run by Hong Kong-listed Smart Union Group, has thrown thousands of workers out of work. Many have taken to the streets demanding their unpaid wages.

October 22, 2008, 10:07 AM
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