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 manufacturing 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 toymaker Hong Kong-listed Smart Union Group, has thrown thousands of workers out of work. Many have taken to the streets demanding their unpaid wages.