The Toy Industry First Fell Down And The Textile Industry Took The Lead.

In August, the media also reported that Yiwu toys were directly related to life and death. In September, the media revealed that the Chinese gift toy industry was experiencing a cold spell. In October, it was the day when the world's largest toy industry and industry group fell, and 6500 employees were unemployed.

An expert analysis pointed out that "from the impact and visibility, it can be said that the U. S. financial crisis has affected the collapse of China's real economy, the first case."

Among the five brands of world toys, Hejun is already the three brand manufacturer.

This is affected by the financial crisis, the first case of Chinese entity enterprises is also the largest case of bankruptcy.

Upgrading from winter to bankruptcy is far more than the toy industry.

Will the textile industry follow suit?

The next big bankrupt company is likely to be in the textile industry.

The latest figures released by the General Administration of Customs show that in 2008 1~9, China's textile and apparel exports totaled 136 billion 940 million yuan, an increase of 8.12% over the same period in 2007 and 8 months in a row.

In fact, if combined with the exchange rate changes, China's textile and clothing exports have been showing negative growth since June of this year.

The foundry enterprises are most affected by the financial crisis.

An open China Customs report points out that toys are traditional labor-intensive products. Since the beginning of this year, domestic raw materials and labor costs have risen, RMB appreciation has accelerated, financing difficulties have been reduced, export tax rebate rates have been lowered, and foreign inspection fees have increased.

"It's not easy now," said Professor Chao Gang Ling, who is familiar with Hejun group. He is now known as one of the biggest enterprises affected by the US financial turmoil in China. After losing 200 million Hong Kong dollars in the first half of the year, it is not easy to sustain it.

In fact, not only the toy industry, OEM enterprises will be the biggest impact in the financial crisis.

Enterprises urgently need to prepare for crisis.

More than one economist has told reporters positively that the real economic crisis is approaching.

"The economic crisis will come, and it will definitely affect the real economy."

Ma Yun commented: "the crisis is not terrible, but it is really scary if the enterprise is not prepared."

One of the effects of the financial crisis on China's economy is that China's real economy will be forced to pform.

American consumption and made in China have become a typical model of global economic development since 2003, but this mode will change with the subprime crisis.

As a productive country, the rapid growth of the labor force has provided strong support for various economic development policies. The foundation for the prosperity of the foreign trade market is the rational positioning of the comparative advantage of labor force in the global industrial chain.

The development mode of China in the past 5 years is exactly a perfect combination of comparative advantage and American demand under the demographic dividend background. However, the collapse of us demand is accompanied by the deceleration of China's demographic dividend effect, thus creating an impact on China's endogenous and exogenous economic growth momentum.

Some scholars believe that under this opportunity, the domestic economic development mode needs to be actively pformed.

For example, we should vigorously develop high-tech industries and services to reduce the excessive reliance on resources in the operation of the national economy.

We should actively grasp the global acquisition opportunities brought about by China's repositioning of the global economy.

At the same time, it can also improve China's trade relations with Europe and Japan.

The export of Europe and Japan, which is affected by the decline in US demand, will actively open up the Chinese market. China has become a "life-saving straw" to save these developed economies. It can make use of this favorable situation to import high-tech products that existed in trade barriers in the past, and learn from the experience of India so that these exporters can invest part of their income in China to build factories to help upgrade China's manufacturing industry.