Wenzhou Foreign Trade Enterprises Prepare to Prevent the U.S. Debt Crisis Early

Recently, the sudden U.S. debt crisis made some foreign trade companies startled. Although the short-term impact of the current U.S. debt crisis is not obvious, for Wenzhou's foreign trade enterprises, its main export market is in the United States, so local foreign trade companies still have concerns about the possible negative effects in the future.

Many companies worry that the downgrade of the US credit rating may cause the US economy to become more sluggish, resulting in a reduction in US national consumption, which will directly affect orders for next year.

In order to prevent problems, many foreign trade companies in Wenzhou are preparing to make preparations in advance and establish “safe haven passages” in various ways. "After experiencing the test of the financial crisis, we deeply understand the principle that everything presupposes," said Zhu Jianyong, chairman of Jindi Footwear. On the one hand, it is further strengthening the construction of overseas early-warning systems; on the other hand, it is working with some long-term The partners made attempts to cross-border trade settlement and tried to reduce the impact of the depreciation of the US dollar.

The vigorous development of emerging markets has also become another magic weapon for many foreign trade companies. “The development of the ASEAN market is relatively good and it is gradually forming a new growth pole.” Wenzhou Garment Merchants Association’s Foreign Trade Branch official stated that Wenzhou garments are mainly concentrated in the European market in the traditional overseas trade area. In recent years, the ASEAN and Russian markets have further developed. Get involved and receive certain results.

Compared with these initiatives, more effective and proactive responses are seen by some forward-thinking companies. They have already begun transformation and upgrading earlier and researched and developed high-tech, energy-saving, environmentally-friendly, and high-value-added products so as to be able to fluctuate in exchange rates and raise costs. When adverse influences such as the U.S. debt crisis, etc., can be dealt with calmly.