The third meltdown of the U.S. stock month, is the financial crisis quietly approaching? How do textile companies respond?

Release time:

2020-03-18

U.S. stocks meltdown so frequently, with central banks to follow up with interest rate cuts, more and more people began to worry about the future economic development, and even some people pessimistic that we are on the precipice of a new financial crisis.

The Federal Reserve unexpectedly announced a rate cut on Sunday due to factors such as the severe epidemic situation100basis points, and launch7000The $billion quantitative easing program has spooked global markets and failed to save investor confidence,3Month16Japan, U.S. stocks open sharply lower, Dow down about2200Technology stocks, oil stocks and Chinese stocks fell sharply. S & P500Index down7%, triggering the third fuse this month. Closed15Trading resumes minutes later, U.S. stocks extend downtrend, S & P500Index is now down9.3%The Dow fell close.12%, the index fell11.6%. Boeing Falls Over20%Delta Air Lines fell.16.63%. U.S. stocks in China weaker, Alibaba(U.S. stocksBABA)Falling8.7%, Jingdong(U.S. stocksJD)Falling14.23%, Baidu(U.S. stocksBIDU)Falling10%, fight a lot and fall9.8%.

On the same day, BrazilIBOVESPAIndex opens lower12.5%, trigger the fuse. The New Zealand Federal Reserve, the Hong Kong Monetary Authority, the Macau Monetary Authority, and the UAE Central Bank have also followed suit to cut interest rates......

Is a new financial crisis imminent?

Is this really the case? Relevant financial scholars say that when the U.S. stock market fell50More than%, accompanied by the collapse of a large number of financial institutions, can be regarded as a financial crisis, but it is far from that level, so we do not have to panic too much.

Although the current epidemic has had some impact on the economies of various countries, it is still mainly reflected in the middle of the industrial chain and in end consumption, and the impact on other aspects has not yet been reflected. Moreover, as China's manufacturing industry to resume work, the process of resumption of production continues to advance, the end consumption is also gradually improving, the degree of domestic impact of the epidemic is gradually reducing.

What is more complicated now is that if the epidemic worsens in Europe, the United States and other Asian countries in the future, and it takes a long time, it will have a greater impact on China's import and export trade.

What Can We Do? Two Suggestions from Experts

After the three successive meltdowns of U.S. stocks, many companies have felt greater pressure for development, how many more meltdowns will follow? What should we do in the textile industry?

In response to this problem, some financial experts have given two suggestions: First, we must accelerate domestic industrial upgrading, reduce external dependence in high-tech, and further stimulate effective domestic demand. Secondly, there is no need to panic, as the epidemic in our country gradually improves, domestic consumption will soon recover. From the current point of view, our initiative to tide over this difficulty is gradually increasing. In order to really break through the tight encirclement and achieve these goals, we should also give full play to the role of entrepreneurs and fully mobilize their enthusiasm and creativity. "Wuhan refueling" is transforming to "boss refueling.

The more in the face of difficulties, the more can show an entrepreneur's ability to innovate and adapt to the market. This can also be fully illustrated from the resilience development experience of China's textile industry over the past few decades. In the face of this outbreak, we really appreciate the industry's rapid response capabilities and technological progress. For example, Hengtian's Jingwei Textile Machinery, Hengtian Heavy Industry and other rapid conversion to the development and production of mask machines, mask pressing machine ran out of China's speed, to achieve the central enterprises to play. The rapid conversion of Jihua Group and Sunshine Group to protective clothing reflects the true qualities of textile workers who take into account the overall situation and respond quickly. All these show that the textile industry has always had strong technological innovation capability. They can respond quickly at critical times and fully demonstrate the responsibility of the industry. This conversion not only alleviates the shortage of anti-epidemic medical supplies at a certain level, but also highlights the connotation of the new orientation of science and technology in the industry. Of course, many companies in the textile industry have switched to medical protective equipment. To some extent, it has indeed alleviated many pressures such as the unsmooth coordination of the industry's own industrial chain, but we must also realize that this short-term expansion of the production of epidemic prevention equipment may It will expand the export capacity in the next few months, but after the epidemic is over, it is likely to become redundant production capacity. So from now on, we should start laying out the post-epidemic era.

The post-epidemic era is the era of creating customers.

The current frequent meltdowns in U.S. stocks have not yet revealed a more obvious fatal impact on the development of our industry. But for every textile company that has experienced wind and rain in the market tide, it should be prepared to deal with various risks at this time.

It is undeniable that the three circuit breakers of US stocks in January have indeed sounded the alarm for us, and this global epidemic has indeed brought unpredictable challenges to the development of the global economy. However, just as people who have recovered from the virus often have immunity, enterprises that have survived the epidemic will certainly have greater ability to resist economic risks and accumulate greater strength, it is also destined to become the forefront of high-quality development teams at a faster pace.

Then, how should textile enterprises develop in the future? And how should they carry out industrial upgrading and innovation? Some theories of Peter Drucker, the father of modern management, may give us some enlightenment. He believes that the purpose of business is to create customers, not to create profits. Enterprises should explore and meet the needs of customers are not aware. In his view, companies have only two basic functions: marketing and innovation.

According to Drucker's theory, it is not difficult to understand that if the previous era belonged to enterprises that were good at "managing customers and markets", then the future winners will belong to enterprises that are good at "creating customers and markets. At present, the diversified development and cross-border competition among various industries have begun to generate a series of new business opportunities. Early in17years agoSARSAfter the end, "forced" out of Taobao, Jingdong and other innovative consumption patterns. We also believe that after this epidemic, there will certainly be newer consumption patterns, and those who can achieve these cross-border innovations must be innovative enterprises. For example, in the context of the shortage of masks, many textile enterprises or enterprises outside the industry began to switch production masks, while some investment companies are ready to invest in mask vending machines.

In the face of the current complex development environment, especially for small and medium-sized enterprises with more development problems, now we should calm down and think about how to take the first step in cross-border innovation and actively participate in the market competition of creating customers as soon as possible. In order to turn this idea into reality, we should rely on talents with innovative thinking and pioneering ability. It can be predicted that the future cross-border era is the era of real competition for talents.

Go all out to fight the epidemic, concentrate on the resumption of work and production-China's industrial textile industry product research and development base highlights the industry's responsibility.

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