Some China plants facing toughest times
from Plastics News
Sharply rising costs in China and weakness in major markets in North America and Europe are making it probably the most difficult time in at least 20 years for many export-oriented small and medium-sized manufacturers and plastics firms in China. In recent interviews, executives said more factory closings are likely as less-efficient firms struggle with wage increases of 15 percent a year and a stronger Chinese currency. Further complicating the outlook in the past few months is sudden slackness in orders from traditional Western export markets, they said.
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