Posted AT 9:13 PM EST on 29/08/08
Cover Story: Warning signs from the centre of the boom
TORONTO, BEIJING — Just two years ago, the Shangxing Furniture Company was expanding as fast as it could. Almost all of its profits – about $4-million – were plowed back into new warehouses for the wooden furniture that it churned out for North American and European customers.
And then the slowdown hit. Costs soared and exports slumped. Since the start of this year, its profits have virtually disappeared.
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