67,000 Factories | — Panjiva

67,000 Factories

  • By Josh Green
  • · November 14, 2008
  • ·

Another article in the New York Times about factory closures in China.  According to government statistics, 67,000 Chinese factories closed in the first half of the year.  11,000 per month.  And that was BEFORE the global economic meltdown.

It’s scary enough that all of these factories are closing.  It’s even scarier that these closures are happening without any warning.

See a previous post about how you can spot risk in time to do something about it.

  1. Jeanne Atkinson  ·  November 15, 2008

    FYI Many firms have frozen travel budgets for sourcing personnel. Many US agents are leaving China and going to Pakistan. In spite of gory news daily from Islamabad and Karachi and the Western border, with the details of the murder of the USAID fellow in Islamabad added to the global economic slump any travel may decline substantially. The Europeans have been in Pakistan for years. Pakistan has a terrific cotton textile industry and state of the art dyeing facilities so their bottom weight cottons are1st class. Most manufacturing is in the far northwest, around Lahore. Labor costs less, minimums are less, transporation infrastructure better, port to port time less than from HK.
    Jeanne Atkinson

  2. Ms.Ivy  ·  November 18, 2008

    It is true that some of factories in our country have closed,even some famous companies. But i am sure, most of the factories are still running , just some special rules and regulations have been carried out to make sure to operate smoothly. As one of factories in China, we have much confidence to overcome this situation with our customers . Also , any oversea company are welcomed to visit our factory and do business together. Our main products: LED spacer supports , PCB parts , Cable clamps , Bushing series , Termial series , Connector series , Switch series , Jack series . Any question, feel free to contact with me. I am ivy, my email is : ivy@yazhoulong-hk.com

  3. Pingry  ·  November 26, 2008

    I always examine government statistics with great caution, especially those collected by Communist ones!

    As Ronald Coase was believed to have said “if you torture the data long enough, it will confess.”

    And still better, Milton Friedman once asked Sir John James Cowperthwaite, Hong Kong’s Financial Secretary from 1961 to 1971 and architect of its successful laissez-faire growth policies, about the lack of statistical data being collected.

    Cowperthwaite told Friedman that “if I let them compute those statistics, they’ll want to use them for [central] planning.”


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