Japan's Fastener Industry Faces an Emptying Crisis

As a result of the damage to the production facilities of many screw manufacturers, the production capacity has not been restored. In Japan after the strong earthquake, the power supply has been unstable. This has also caused many screw manufacturers to stall production.

In addition, the appreciation of the Japanese yen has also made Japan’s economic recovery slow and unfavorable for exports. Although Japan’s screw exports only accounted for 10% of its output, the domestic demand for fasteners has also been reduced, and it’s worth reducing the export of domestic industries. It is mentioned that due to the rise in international oil prices and the rising awareness of environmental protection, electric vehicles will rise, and the number of automotive fasteners in the future will decrease. The Japanese screw industry will have to respond as soon as possible.

The election of the Greek parliament establishes "remaining Europe" and the EU summit announces "blood transfusion" - under pressure from high debtor countries such as Italy, German Chancellor Angela Merkel made major concessions and agreed not to attach new tightening conditions and allow Europe to stabilize The rescue fund of the mechanism (ESM) skips the government and directly injects funds into banks in countries such as Spain that are in crisis, and allows the use of rescue funds to purchase government bonds of crisis countries to reduce their financing costs. All this, although the nervous financial global financial market is a little relieved, the fact that the landmines have not been detonated is not the same as the fact that the landmines have been eliminated. At most, the solution to the European debt crisis has turned more room for change. But the crisis did not disappear, and the euro zone's troubles are far from over. On July 10, Italian Prime Minister Monty, who has been "tentatively reserved" for financial aid, has finally placed an export stance, saying that "not excluding" for help is proof.

As long as we consider that as the world's largest exporter, China’s traditional largest exporter and trading partner has been the European Union, it is not difficult for us to understand how the trend of the euro zone crisis has an important directing effect on the Chinese economy.

On the New Year's Day 2002, 10 years ago, a day that was considered to be a “milestone” in the history of international finance, the euro officially entered circulation and use by countries in the euro zone. Financial experts believe that this is the first time that the world’s financial stage has ushered in an important currency with “leadership potential” since the US dollar replaced the pound sterling as the world’s “currency hegemon” after World War II.

From the very day when it was born, the euro loaded the ideals of European integration and the strong European Union as a pole of independence. However, 10 years later, the euro is seriously ill.

Different debt crises have their own different pathogenesis, but they are inseparable from two basic causes: too many debts and borrowing new money to repay old debts. The European debt crisis is no exception. The debt of some heavily indebted countries in the euro area has already approached or exceeded 100% of its GDP, and Greece has hovered over 160%, while the EU's red line is 60%.

The high welfare in Europe is seen as a big hole in the financial spending of some euro-zone countries. Germans do enjoy high welfare. They work four or five days a week, drink coffee more than 4 hours a day, and have 173 days of annual leave per person. However, Germany has its strong industry "Gold Basin" and a complete tax "suction gold" system. Greece also has high welfare, and public sector employees who account for more than 10% of the total working population in the society receive 14 months of salary each year, paid vacations of one year and one month, and many people in the year can be half past two in the afternoon. " Work off." However, Greece’s economic strength and loose tax collection system cannot hold such high-level welfare. Greek tax officials will go to the terminal to check the names of the luxury yacht owners, because those "boat owners" will also declare themselves as low-income "tax-free households."

How can the "European debt crisis" solve the crisis? The answer makes the eurozone very divided.

France's new Prime Minister Hollande is now in command, with Italy, Spain and Greece trying to overthrow the "pharmaceutical side" of Germany, advocates fiscal easing, Germany wants to agree to "more money" money lending. Germany's assessment of this is "drinking water and quenching thirst," insisting that highly indebted countries strictly implement fiscal austerity and live within their means.

In the crisis of the euro family, the member states are willing to be so dangerous, but also so reasonable to the north and south - countries have the interests of all countries and have more habits of living.

The European debt crisis has not only brought about the impact of the global village economy, but also allowed more people to think about how human development should go.