“We are considering quitting the European market because the import duty is far beyond our ability to withstand.”-Wu Jianfeng, Hongyu Ceramics

Chinese media reporting that many small Chinese manufactures are in trouble, because they can no longer afford to send products to Europe.

In March the European Union jacked up its import duties on Chinese ceramics from just 3% to 73%!  If you study the world wide depression of the 1920-30s you’ll find that protectionist measures, like outrageous import duties, helped turn a recession into a depression.