Factories shut as crisis hits China

[JI7]

Source: bbc

Right now, factory workers here are angry. The world's financial crisis has begun to hit them.

It is easy to understand why: since the West can't afford to buy as much, China isn't able to sell as much. In better times, the An Jia factory would ship its baby cots to the US. But now its workers say the US has stopped buying. Their wages have been cut by up to 75%.

This year growth has slowed, and more than 60,000 businesses have closed down. Reports say that more than 50% of toy factories have closed down.

The Communist Party has stayed in power partly because it has made poor people richer. But now the world's financial crisis has arrived.

So, what happens in this country if hundreds of millions of workers no longer feel they can get a better life?


Read more: http://news.bbc.co.uk/2/hi/asia-pacific/7733499.stm

[midnight]

1. I wonder if this financial crisis is tied to all the lead and poisons

that have been shipping out of their docks these past years. Consumers don't trust them anymore?

[uppityperson]

12. Americans have cut back buying cheap shit from China.

We knew it would happen and now it has. People are not buying as much stuff, including cheap shit from China, or expensive stuff from China. Now those making this stuff are hurting and cutting back also.

Around and around and around we go. Question I have is if, or when, China will call in USA's debts.

[customerserviceguy]

13. Yeah, especially with "baby cots"

I cannot blame any buyer working for a retailer in America to cut Chinese made poison off of the list, it's a good way to get your ass sued off.

[Ganja Ninja]

2. They've got over a billion people so I don't see why they can't grow from within.

Just once I'd like to see someone else be the engine of the world's economy instead of expecting us to support them by buying all their crap. There is or was only so much money in this country and we're all tapped out. We need people to buy our crap so we can get going again.

[JI7]

3. isn't it our companies that moved there and opened factories

so they could do it for cheap and without being held to environmental, labor and other standards ?

[Hannah Bell]

14. yes.

[Tesla]

4. Hopefully America starts making their own products again

and stick to our quality standards.

[AndyTiedye]

5. If They Want Us To Buy Their Stuff, They Need to Buy More of Ours

[EnviroBat]

6. Now Andy, wasn't there a word for that?

I seem to remember some term,,, some phrase,, but it was such a farce, I can't seem to remember now.

Oh Yeah! FREE TRADE! That was it!

I seem to remember that while it sounded good, it was nothing but an elaborate front for U.S. corporations to move labor oversees to avoid taxes and paying workers a living wage. Ya know, things like that...

[Deja Q]

15. As long as they use the same quality materials - seems only fair.

[OhioChick]

7. Welcome to our world.

:nopity:

[april]

8. Does anyone remember? Buy American

[comtec]

9. I got one of those pins... Made in china~

ok jk.
but if you look at the physics bending rule bending that is done by all those "made in the USA" 'brands' you;ll find they are really made in us-owned protectorates in asia... it's fucking despicable!

[Javaman]

10. so if china's economy really hits the shitter, do you think they will call in their t-bonds?

hmmmmmmmmm

[bdamomma]

11. it's that ripple effect.

bad very bad to put people out of work in whatever country they live in.

[Deja Q]

16. No argument here