A notice posts on the closed factory gates belonging to Smart Union saying that the company cannot pay the salaries to the workers. The Zhang Mutou Town Government is going to pay the salaries for the Smart Union as a loan to the company. Smart Union is one of several factories in South China that went bankrupt in the current credit crisis. Smart Union, that produced toys for Mattel amongst others, left 6,000 workers jobless and penniless. Hundreds of factories in South China are closing due...
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A notice posts on the closed factory gates belonging to Smart Union saying that the company cannot pay the salaries to the workers. The Zhang Mutou Town Government is going to pay the salaries for the Smart Union as a loan to the company. Smart Union is one of several factories in South China that went bankrupt in the current credit crisis. Smart Union, that produced toys for Mattel amongst others, left 6,000 workers jobless and penniless. Hundreds of factories in South China are closing due to increased labor and material costs and the current credit crissis is exasperating. The problem leaving ghost towns behind. .24 Oct 2008
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