Friday, Oct 24, 2008
China is being hit over the head by both the global crisis and the domestic slowdown
SOTT brings you USA TODAY: Economy rocks China as factories close by the thousands
River Dragon shut down on Oct. 7. Tao and Yan have vanished, leaving behind more than $290 million in debt and a lot of anger in this city 140 miles south of Shanghai in the Yangtze River Delta. The company's demise put 4,000 workers on the street and jilted hundreds of suppliers and creditors.
The speedy rise - and speedier fall - of River Dragon is a depressingly familiar story in China these days. Thousands of Chinese factories have shuttered in the past year, done in by:
Posted by malct @ 11:33 AM (161 views) Add Comment
1 Comment
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1. Jimbo said...
Why not just link to he article on USA Today, rather than via a conspiracy tard site.