• Short Summary

    Hong Kong's toy industry, which supplies the world with the bulk of its toys, dolls and games, faces a slow-down this year.

  • Description

    Hong Kong's toy industry, which supplies the world with the bulk of its toys, dolls and games, faces a slow-down this year.

    The colony starts the new year with fewer big orders than last year. Its traditional big buyers -- the United States, Britain and West Germany -- are not importing as much because of economic recessions.

    And Hong Kong manufactures themselves are not anxious to book too far ahead because of the uncertainty over prices of raw plastics -- by - products of the petrochemical industry. The prices of raw plastics have risen several times in the past year, forcing many smaller factories to shut down.

    Hong Kong has been the world's largest exporter of toys since it took the lead from Japan at the end of 1972. Last year, for example, Hong Kong's toy exports for the first nine months were up 21.5 per cent on the same period of 1973.

    SYNOPSIS: Over the years, Hong Kong has earned a reputation for making sophisticated toys -- like racing cars and electric trains. Although Hong Kong manufacturers often borrow ideas from their Western and Japanese counterparts, they have mastered the art of perfecting an imitation or modifying a design. This train is one-ninetieth the size of its American counterpart. By nineteen seventy-two, skillful workmanship and low prices had helped Hong Kong topple Japan as the world's leading supplier of toys, dolls and games.

    With growing exports, the need to ensure that Hong Kong-made toys are safe became apparent. So a chemical laboratory operated by the Federation of Hong Kong Industries was set up to examine the materials, particularly those used to fill soft toys.

    This year, however, Hong Kong's toy industry faces a slow-down. Its main markets ... the United States, Britain and West Germany ... are cutting their orders. The Hong Kong manufacturers themselves are not too keen to book too far ahead because of the uncertainty over prices of plastics. Many Hong Kong toy makers found in the past year that they were bound by contracts not to increase their prices, despite steeply rising costs. The price of plastic has risen several times in the past year. Such economic difficulties have forced many small-time factories to close.

  • Tags

  • Data

    Film ID:
    VLVA7U7A6L4WASM9LAK906LQ4R4KK
    Media URN:
    VLVA7U7A6L4WASM9LAK906LQ4R4KK
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    13/01/1975
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:37:00
    Time in/Out:
    /
    Canister:
    N/A

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