China's exports of textile bags wrestling financial crisis - textiles, textile bags - leather industry

Wall Street turmoil is the global spread of the follow-up effects of the recession already looming in the United States, Europe, Japan and other major economies over. Which is a downturn has begun to affect the dependence of international Market The health of China's export enterprises. It is reported that Hong Kong-listed Smart Union Group have shut down two of its toy factories in Guangdong, and employs more than 6,000 people involved. Alarm, China's exports could carry off this unexpected calamities?

Financial turmoil is a crisis caused by fermentation. Just won the Nobel Prize for Economics Princeton University economist, Krugman warned: "This crisis has made great economic entities down the momentum, even if we open the credit markets, we may welcome painful recession. "while the Microsoft founder Bill? Gates put it, the U.S. economy is heading for a" serious recession "period, the unemployment rate may exceed 9%.

Some people questioned whether these statements exaggerated, but the major economies in Europe and America recently announced by the economic indicators are not optimistic. European and American markets are very dependent on the degree of China's exports will become a crisis "fish pond", as the focus of immediate concern.

Index unsightly damage to the financial crisis has begun to erode consumer psychology. "Washington Post" published on 14 survey, as of Oct. 13 week, U.S. consumer confidence index fell 5 points to -48; the previous week to -43. The questionnaires showed that 9% of respondents said the economy remain confident and less than 14% of the previous week. In addition, 50% of respondents said their personal financial position, the proportion of unchanged data in the previous week. In addition, 19% of those surveyed said that their purchase a good mood, the proportion is less than 21% of the previous week. U.S. October consumer confidence index for 41.1,9 IBD was 45.8 months, the United States on October 11 when the weekly Redbook Retail Sales fell 1.2%.

Euro zone data as ugly. In June, the European household purchasing power has been the impact of high oil prices and food prices, purchasing power has been inhibited, the EU consumer confidence has fallen to below the level of long-term average. July consumer confidence index released in Europe is dropped to the lowest point in 14 years, while the actual survey also shows that Germany, Denmark and Italy, the decrease in consumer confidence over financial institutions to Analysis Division of the imagination.

In Asia, Japan, the latest household consumer confidence index in September was 31.2, the lowest record since 1982.

Consumer concerns led directly to the market downturn. 9 U.S. Department of Commerce announced that the United States in August wholesale inventories rose by 0.8%, 0.5% higher than economists expected. Shown in the case of economic weakness, wholesalers indirectly by the sales declines.

Central University of Finance and the China Banking Research Center, Professor Yong Ren Guotian interviewed said that since the subprime crisis in the financial turbulence triggered by the process, over time, the United States and Europe constantly exposed the financial system to new problems, particularly in the stock market continued to fall in many countries, even some countries, such as the brink of national bankruptcy Iceland, which makes the general public for the breadth and depth of the crisis of uncertainty is expected to continue to enlarge, resulting in confidence inadequate; the other hand, continued to expand in all major countries of the recent efforts to rescue the city from negative improve the public's concern for the crisis, it is this negative inference, so that people can not move from rescue to get the confidence boost, but on future with greater anxiety and pessimism.

Inevitably affect the United States, European Union, Japan and other developed countries and regions are the main export market, the financial crisis will inevitably result in their markets up to a great degree of weakening, it will undoubtedly tremendous pressure on China's export growth. As the financial crisis on the real economy, further eroding consumer sentiment, the external market, digestion will gradually shrink the world economy may be undergoing tremendous changes, which have made China's foreign trade is facing more variables.

It is reported that Hong Kong-listed Smart Union Group have shut down two of its toy factories in Guangdong, and employs more than 6,000 people involved.

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