Monday 27 October 2008

Credit crunch hits NIC's

Most of the world's toys are made in China.
But in the last seven months, half the country's toymakers have gone out of business.
Last year's toy scandal, when lead paint was found in Chinese made toys sold in the US, was the beginning of the trouble.
Wang Suzhen has seen orders at her factory slip
New safety regulations added to costs, wages were on the rise, and then factory owners noticed that their orders from overseas were beginning to dwindle as customers in America and Europe cut back because they have less money to spend.

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