Shoe Market Credit Interest Rises And Disputes

If we go to Wenzhou, Guangdong, Zhejiang today,

The voice about whether to save or not basically comes from the two circles of politics in the north of the Yangtze River.

They believe that this is the end of the usurer's own fault.

Let's take Wenzhou as an example.

In this area, the history of usury is almost as old as the history of reform and opening up.

This is the earliest germinal place of China's individual and private economy, especially footwear industry.

The first one appeared in 1984.

The first major crisis in Wenzhou usury was in 1986, when the dead and runaway "lift up events" occurred. Finally, the government cracked down on the way of grasping and executing the meeting.

The period of inflation in 1993 has happened again.

Over the next fourteen years, usury has been there but there has been no major crisis. The footwear industry in Zhejiang, Guangdong and other places can grow rapidly, which is closely related to an active non-governmental financial environment. One of the most striking facts is that in the past macro control of the late 1990s to 2004, shoes and clothing enterprises in Zhejiang and Guangdong have stronger risk tolerance than other enterprises.

As long as you walk into Wenzhou, you will find that the masses of the people here are not "gnash teeth" as they imagine. On the contrary, their rules of the game have been relatively standardized. In Chinese history, folk credit has always been higher than the government's credit -- from cadres to teachers, and many people and families have participated in the civil service.

Usury once again sounded the alarm of the crisis in 2007.

The reason is: the scale of private enterprises such as shoes and clothes is getting bigger and bigger, and the scale of underground banking market has not matched with it. Therefore, when the economic environment is overheated, the government's demand for credit control is increasing, resulting in a sudden increase in the demand for funds in a very short period of time, resulting in the interest rate rising in the subprime credit market.

So, is there such a "life buoy" in our hands today?

First, the central government.

Premier Wen Jiabao went to Wenzhou and Guangdong in recent days, showing support and assistance attitude, and even heard that the central bank passed the loan of 60 billion yuan in a "hot and urgent way". The news was later denied.

In October 12th, the State Council held a executive meeting, and launched a series of preferential measures such as reducing income tax by half.

The central government's positive stance is certainly gratifying.

However, from the perspective of the history of reform, we have seen that over the past thirty years, the crisis of private enterprises has never been rescued by the central government's policy.

Therefore, "easing money" is hard to achieve success. Besides, more than 70% of small and medium-sized enterprises such as shoes and clothing have never been related to "money".

(