70,000 factories closed in China

**j10asen** · 02-20-2009, 12:40 PM

If China recently closed this many factories how many originated by closing American Factories?

In the past months, about 70,000 factories nationwide have closed. Beijing official Chen Xiwen estimates about 20 million migrant workers have lost jobs. Tens of thousands of villages in the countryside depend on migrant workers' income.

as taken from here
Road to riches ends for 20 million Chinese poor - CNN.com

note it should read "Road to riches began in USA and ends in China for 20 million Chinese poor"

Blue Baboon · 02-20-2009, 02:37 PM

That's not good that so many closed. I know a lot of companies here were marketing a lot to China as they were considered to be in their industrial revolution. The Chinese had more money to spend now on goods. In my marketing class that I took, we discussed this quite a bit with the beverage companies, among others, targeting China.

Latina · 02-20-2009, 02:51 PM

Quote:

Originally Posted by j10asen

In the past months, about 70,000 factories nationwide have closed.

That's just simply NUTS!

dgridley · 02-20-2009, 03:25 PM

Terrible news.. I was reading about this earlier.