International Competitiveness Analysis Of Chinese Toy Industry On The Background Of Financial Crisis

In the second half of 2007, the United States sub prime erupted and quickly spread to all over the world. This crisis started in the financial sector has gradually spread into the real economy and ultimately on the world economic environment and development situation had a tremendous impact. In the global economic environment, our country is inevitable under attack. As a representative of the labor-intensive industries, China's toy industry holds an important position on the international market. In the context of financial crisis, the paper makes a research on the international competitiveness of China's toy industry to understand the extent and impact of the industry and the development situation of the toy industry as well. In this paper, various methods are used. Qualitative analysis method is mainly used to study the factors of China's toy industry. Quantitative analysis method is used to study the performance results of the international competitiveness of the industry. Empirical analysis and comparative analysis are used comprehensively to evaluate the level of the international competitiveness of China's toy industry. The research relies on the "Diamond Model" and causal analysis model as well as other evaluation models, adding the crisis response capabilities under the specific context of the crisis, which can help to study the basis competitiveness, core competitiveness and environment competitiveness then to draw the general conclusions of the international competitiveness of China's toy industry.After studying, this paper finds China's toy industry has been influenced to some extent by the financial crisis, including the decline of export orders, export value and enterprises have reduced etc. However, after analyzing the direct and indirect factors, it is found that there are still favorable conditions and capabilities for China's toy industry to keep high international competitiveness. There are a large number of practitioners in China's toy industry and it provides a strong labor resource advantage. As the domestic economy environment gradually gets better, the upstream and downstream industries have been promoted and have been creating better conditions for development of the China's toy industry. As to the domestic demand, China has a vast domestic market which is worth being expanded for enterprises, and it will be the important foundation for the transformation of industrial structure. Meanwhile, the government also implements a number of policies to help encourage and support China's toy enterprises. By analyzing the revealed index, the data objectively reflect that in the context of this world financial crisis, China's toy industry still has high international competitiveness. Trough the horizontal comparison with the United States, France, Korea, Japan and India, international market share, the index of export rise advantage, the index of relative export advantage, the index of trade competitiveness and comprehensive evaluation index show that the international competitiveness of China's toy industry is significantly higher than those countries and leads the world level. Compared with the United States, Japan, France and Korea, China's toy industry has the labor resource advantage, but as to capital and technology, there is a big gap. To some extent, the traditional approach of trade development limits a further promotion of the international competitiveness of China's toy industry. At the same time, the international competitiveness of some developed countries is gradually upgrading and it is a warning signal for China's toy industry. This paper holds out that at present there some key problems in China's toy industry. First, China's toy industry is much too depending on foreign markets, and the vast domestic market has not been fully developed. Second, there is a lack of scientific and technological content, the culture connotations need to be excavated. Third, China's toy industry is short of independent brands and strong enterprises. Moreover, financing difficulties restrict further development of small and medium enterprises, etc. To solve these problems, the paper puts forward some recommendations, including making effort to develop the domestic and new market, increasing scientific and technological input, enhancing cooperation with cultural industries, building own brands, improving SME financing system, strengthening attention and supports from the government to the toy industry and so on. It is hoped that by these ways, China's toy industry can move away from the shadow of the world financial crisis early and the international competitiveness of the industry can be promoted.