Global crisis eating up jobs at home

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.