15 Oct 2008

Small toy makers in China going out of business

6:37 am on 15 October 2008

Official figures from China suggest half the country's toy exporters have gone out of business so far this year.

The toy manufacturing industry, the biggest in the world, says it's experiencing its most difficult time in decades.

A combination of weaker demand from the United States, a stronger Chinese currency, and tougher safety standards are behind the rise in business failures.

Most of the failed companies are small-scale producers whose exports are worth less than $150,000 each.