Toy Factory In China Closes
Article By: Patrick Cuddy
A huge toy factory in china's Guangdong province closed last Wednesday. The factory Smart Union Group Ltd., made toys for hasbro, mattel and other companies.
(quote from TFW)
According to an Associated Press story released earlier today, this is just the latest in the toy industry's woes. Over half of China's 3,631 toy exporters went out of business this year, due to a combination of the tightening of credit, higher manufacturing costs, an appreciation of Chinese currency and the costly lead paint-related recall.
Damn, this shit is gettin out of hand! Not to mention the lack of toys we will be seeing on the shelves this year... :-) This sucks, it was mentioned it put about 7,000 out of work.
Source- TFW2005
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