Financial Crisis On The Impact Of Garment Enterprises In Zhejiang And Strategies

The financial crisis initiated by the United States in2008becoming into a globalfinancial tsunami, each country was hit seriously. This article introduces the formation andevolution of the financial crisis. Financial crisis affect each industry globally, the traditionallabor-intensive clothing industry enterprises has much worse influence. China also hasexperienced the double test of sustaining downturn overseas market demand and steadilydomestic market rebounded. As the production and exports clothing province, garmentindustry in Zhejiang plays a key role in industrial production and import/export trade.Financial crisis globally spreads while each county proclaims trade barriers, that wouldcompletely cripple the global economy and export market, Zhejiang clothing industry alsoappeared a significant change, export growth fell back, consumer falls, enterprise price adjusts,foreign investment declines, export scale shrink, trade falls profits. For these problems, thisarticle makes analysis respectively on how financial crisis affects clothing enterprise in Chinaand Zhejiang locally, then introduces the domestic and overseas scholars’ points about therelated research and countermeasure.This article based on the economic data of Zhejiang clothing import and export tradeclothing structure, do the research from enterprise structure and foreign investment aspects.Then, to put all kinds of data through empirical analysis, using stationary test and integrationtest measurements methods to further inspect the financial crisis influence on Zhejiangclothing enterprises. Finally, according to the theoretical analysis and empirical analysis result,draw such conclusion, from two angles of government policy and enterprise itself, analyzestrategies for Zhejiang clothing enterprise to deal with financial crisis, and also get thesolution to enhance the international competitiveness of Zhejiang textile garment industry.