Angry Bagmaker Shows China Slowdown Worst in Wenzhou – Bloomberg 06-12-12

Decline of shadow banking together with government moves to rein in a national property bubble are crippling small business. Seven out of 10 businesses in the Wenzhou rely on exports, in labor-intensive industries, leaving it vulnerable to Europe’s crisis.

Property in Wenzhou remains out of reach for thousands even after home prices slumped 12.3 percent in April, the fastest drop in the country.

Read the full article at http://www.bloomberg.com/news/2012-06-12/angry-bagmaker-shows-china-slowdown-worst-in-wenzhou.html

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