Global Economic Slowdown Hitting China Hard
Filed in archive News by Greg Cruey on October 18, 2008
National Public Radio ran an interesting story this week on how the global economic slowdown is affecting China.
In the words of NPR reporter Louisa Lim:
The entire story is about five minutes long and you can listen to it here.
Photo courtesy of iStockphoto, Ronnie Comeau
In the words of NPR reporter Louisa Lim:
The export sector - which has driven 30 years of double-digit growth rates - is struggling badly.Lim focuses her report on Dongguan, a manufacturing hub in Guangdong Province between Guangzhou and Hong Kong. According to one factory manager there quoted by Lim:
There's almost no profit. Raw materials have gone up, the cost of labor has gone up, inflation - everything's gone up except for the cost of the product.Lim also interviewed expat factory owners and Harley Seyedin, the president of the American Chamber of Commerce in South China.
The entire story is about five minutes long and you can listen to it here.
Photo courtesy of iStockphoto, Ronnie Comeau
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