Half of toy manufacturers “knocked out” within two years
October 22nd, 2008
After the closure of the Smart Union toy factory last week, an industry expert said yesterday that almost half of all toy manufacturers in the Pearl River Delta could go out of business in two years.
“Of the 3,800-odd toy firms in Dongguan, no more than 2,000 are likely to survive the next couple of years.” Based on the rising cost of raw materials, soaring overheads, the slowdown of global market and depreciation of the US dollar, Wang Zhiguang, vice-chairman of the Dongguan Toy Read more…
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