China's Official Calm Belies a War Battering Small Factories 1 / 3 [Yahoo! Finance Canada]
BNP PARIBAS SPONS ADR (BNPQY)
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Source: Yahoo! Finance Canada
factory manager Huang Shan had just laid off half his workers — undone by a war that's rapidly reshaping the outlook for millions of smaller firms. “All I want is to run a small business just to support my family with some steady income,” said Huang Shan, who's slashed his production staff in the eastern province of Zhejiang to about 100 employees since the start of the Iran war. But now “the international environment is too harsh,” he said. In public — including at the China Development Forum — top leaders have so far sidestepped the war's toll on China, leaving it to senior diplomats to hold calls urging deescalation. The hit to the broader economy has also been cushioned by the nation's vast strategic oil reserves and its decade-long push into renewable energy. But the small and medium sized firms that are vital engines of employment in the world's second-largest economy are nevertheless seeing their input costs surge. And as the war drags on, that risks adding to policymaker
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