Global crisis eating up jobs at home
By Zhan Lisheng in Guangzhou and Wang Hongyi in Shanghai | China Daily | Updated: 2008-10-28 07:47
Yang Xiaxi seldom paid attention to the happenings in the US because he thought they had nothing to do with him.
But now he realizes he was wrong because in a globalized world, a financial crisis on the other side of the globe can cause a person his job even in Dongguan, Guangdong province.
Though he describes himself as an experienced and professional art designer, he has been out of a job since his former employer, Smart Union, folded up 10 days ago. The Hong Kong-listed toy-maker cited weakening US orders and rising costs, to file for bankruptcy on Oct 17.
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