Financial crisis will hit home appliance industry

Present, evolved from the Wall Street turmoil, worsening global economic situation is intensified, market consumption among this into a new winter season. China as a global

Home Appliances

Major manufacturing center and export power, the stand has shown the initial impact. The financial crisis will bring the Chinese home appliance industry in which new opportunities? In the current international financial turmoil, how should they deal with household electrical appliance enterprises in China? Paller, senior director of consulting the Chinese home appliance industry experts Mr. Luo Qingqi a guest well-known sites, and to examine the "financial turmoil, China's home appliance industry," the subject, the following interview with Record:

Moderator: Welcome Luo teacher. We know that the current Wall Street turmoil by the global economic situation led to deterioration of the situation is intensified, and China is also affected by some of the most important home appliances in China as a global manufacturing center and a major exporter, and I believe that this economy may the impact of China's home appliance industry will be more obvious, you might like to tell us about this economic turmoil on the home appliance industry, which mainly exists in several areas?

Luo Qingqi: You just mentioned the financial crisis, it is intensified, we should be able to see clearly. I think the financial crisis, will bring about what kind of results? That is, our household appliances industry would be a major export of the impact. Why? Because the United States is a major export market for the industry, the crisis in the United States, although the financial crisis, but will result in an extension to the real economy, after the outbreak of the crisis, the entire financial system will bring some liquidity tremendous damage. Then, will the interest rate and exchange rate fluctuations in the market huge, leading to the results? Is to inhibit consumption. As a crisis happens, consumers will tighten their pocketbook, shopping will be tight, meaning that the product market, the amount consumed is reduced. United States, a large part of consumer electronic products are imported from China, the time when consumption is limited, or when the consumption decline, the opposite of China's exports will be affected.

Moderator: This is very obvious, or present a very direct impact.

Luo Qingqi: Yes. From our contact with the case, we now accept orders from the U.S. manufacturing sector to reduce the number. This for us is a negative signal.

Moderator: the beginning of the financial sector may be more obvious for the real economy is not particularly large or particularly significant effects would occur.

Luo Qingqi: this should be done, now we are actually in the assessment, I have just spoken, and we and home appliance manufacturing business linkages, they also found this problem, everyone is watching. Is the market downturn, have felt the cold wind had come. Also what happens in the end the situation of the future is now unknown, but it is very serious. Why? In fact what the financial crisis? First of all, the financial crisis in the financial system has undergone a series of crisis phenomena and economic center of finance, the time when the financial problems, the manufacturing industry certainly cause a problem. When manufacturing problems, which in turn have a reverse effect, the manufacturing sector is behind it? Behind the manufacturing sector of our labor and employment, while manufacturing industry shrank after the mean reduction of employment opportunities, may be that the number of unemployed will increase, in turn, will restrict consumption, the market will tighten further. So this crisis is it? I think the financial crisis to some extent, this is a real entity in the financial area or face an economic crisis. There is a bigger crisis than this one psychological in psychological crisis.

Luo Qingqi: now there is a severe blow to consumer confidence. After a severe blow, resulting in the shrinking of consumption. I think this is even more terrible than the financial crisis, a financial or real economy led to changes in psychological factors. This is what we expect changes in the future lead to mental decline in this market.

Moderator: consumers money in their pocket and not spent, this greater impact on economic development, and even a little more deeply.

I am an expert from China Manufacturers, usually analyzes all kind of industries situation, such as video door intercom system , doorbell video intercom.

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