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Credit Downgrades In The United States May Trigger A Double Crisis In Quanzhou'S Footwear Industry.

August 11th hearing yesterday, a number of Quanzhou shoes and clothing export enterprises said that the sovereign credit of the United States was downgraded. The most direct impact is the exchange rate of the US dollar to the renminbi. The continued appreciation of the renminbi will have a double impact on the order and profit of Quanzhou shoes and clothing export enterprises.