China furniture makers feel global slowdown pain

By Langi Chiang WENZHOU, China (Reuters) - The furniture factories outside this manufacturing hub are eerily quiet, victims of a housing crisis half a world away in the United States that is sapping demand for everything from beds to bookcases. Wenzhou is the entrepreneurial heart of Zhejiang, a thriving eastern province that was the country's biggest exporter of furniture in the first five months of the year. China sells about 40 percent of its furniture output overseas, with half its exports shipped to the United States, according to the China National Furniture Association. "Business is poor this year, especially since May," said Liu Yongcheng, a senior executive at Zhejiang Adwin Furniture Co Ltd, which is running well below capacity. When order books are full, the company can churn out $1 million worth of furniture a... [read full story]