1. The impact of the US financial crisis on my country

　　1. The evolution and impact of the American financial crisis The United States has evolved from a subprime mortgage crisis to a financial crisis, with bank losses, several bank bankruptcies and bankruptcies, which evolved into an economic crisis, and negative growth in economic development. The crisis is second only to the big flute in 1929-1933. The scope of influence is in developed and developing economies in the United States, Europe, and Asia. The duration can be as little as two years, and as long as 3-5 years. The government rescue measures adopted by the United States and Europe are short-term stimulus, and it is difficult to cure the symptoms. The United States rescued 700 billion US dollars, and Europe rescued 500 billion euros. A large number of banknotes were printed to increase liquidity for financial institutions. Does not increase the ability of producers to purchase investment goods; does not increase the ability of consumers to purchase consumer goods. The prospect is that demand shrinks, and economic growth in the United States and Europe may be close to zero or negative growth.

　　2. The impact of the US financial crisis on China, and the slowdown of China's economic development is inevitable.

　　'S negative impact on China:

　　1. Affect the reduction of enterprise product exports, especially the products exported from Europe and the United States.

　　2. Some financial institutions were damaged. Our country has suffered certain losses due to the bankruptcy of American Brother Bank and others.

　　3. Foreign capital outflows and the stock market declines faster.

　　4. The housing market is sluggish.

　　5. The outlook for foreign exchange reserves is worrying.

　　6. Continue to affect investor confidence.

　　'S positive impact on China:

　　1. Provide opportunities for enterprises to go out and acquire mergers and acquisitions.

　　2. Promote the early relaxation of national austerity policies.

　　3. Warnings must strictly supervise financial and appraisal institutions.

　　4. Warnings must strictly control debts and deficits.

　　5. Warning control and relaxation should be moderate.

　　6. Warn us to prevent the expansion of the hypocritical economy.

　　The recent trend of China's economic growth: the downward acceleration is accelerated, and there is a landslide.

　　1. The growth of industrial added value continues to decline.

　　2. The growth of power generation slowed down significantly.

　　3. The export volume of products decreased.

　　4. Investment (export-oriented and real estate) decelerated, and the actual growth of total social investment decelerated.

　　5. Consumption growth has shown signs of weakness, and it has started to decelerate since September.

　　6. The growth of fiscal revenue has decelerated sharply in the past two months.

　　7. Corporate profits continue to decelerate and decline. At present, the amount of power generation has dropped significantly, and the inventory of power generation coal has increased by up to one month. With surplus railway wagons, large steel mills reduced production, and small steel mills stopped production. Angang's 4 blast furnaces ceased production of 3 units. The consumption trend is declining. The global cooling has affected China's slowing down.

　　2. Impact on the refractory industry

　　Affected by the "financial tsunami" in the United States, users of refractory products in steel, nonferrous metals, building materials and other industries, especially the iron and steel industry, have backlogged inventories, prices have fallen, and profits have fallen. They have cut or stopped production. The decline in product consumption in the refractory industry, coupled with overcapacity of products, rising costs and falling prices, has caused most companies to reduce or suspend production, causing the worst-hit areas and the situation to become more severe.

　　1. The sales volume of refractory materials has dropped significantly. Jinding Group's Huaziyu first-class magnesite ore, which is most loved by enterprises, supplies more than 700,000 tons of fused magnesia production enterprises with a daily supply of more than 2,000 tons, which is difficult to meet the needs of enterprises. In the past half month, only 500 tons have been shipped every day, a drop of three-quarters.

　　2. More than half of the production cut or stopped production. There is overproduction of fused magnesium. Normally, the domestic and export levels are 1.5-1.6 million tons, the production capacity of Yingkou City is 2 million tons, and the production capacity of 1,050 furnaces in Liaoning Province is 4 million tons. The inventory backlog of production enterprises is serious, product prices are falling, and profits are low. , Large enterprises reduce furnace production, small enterprises have reported to stop. Jiachen Group only produces 3 of 48 furnaces; Qunyi Group will stop production of 25 of 50 furnaces. 30 companies have stopped production in the city. Large heavy-burned magnesia enterprises have also begun to reduce production, and more than 40 small and medium-sized enterprises have stopped production, which is also a serious backlog of inventories. The 6 heavy-burning kilns of Hengda Refractories have an annual output of 20,000 tons of monolithic refractories, and production has been suspended for nearly one month. At present, the production output of light-burned magnesia powder, heavy-burned magnesia, and fused magnesia raw materials has dropped significantly, and the output of the maintenance production is less than 60% of the normal production. The current production will be reduced or stopped.

　　3. The export volume of products has dropped drastically. Yingkou City normally exports about 600,000 tons of refractory products (various bricks), and nearly 1 million tons of direct and indirect exports of re-burned magnesia and fused magnesia. In the second half of the year, raw material exports have little remaining export quotas, foreign customers purchase very few, export volumes have dropped sharply, and prices have been kept low. For the export of products, the user has been notified to stop the delivery of the previously scheduled supply contract. Jinhui Group has received more than 2,000 tons of supply contracts to stop shipments, and various product export companies have appeared. There are very few foreign customers who have signed supply contracts for the end of the year and next year, which is 80% less than the same period last year. Domestic sales contracts also decreased by about 30% compared with the same period last year.

　　4. Non-burnt brick manufacturers have contract production, and stop production without contract. The annual output of unburned bricks in Yingkou City is about 1.1 million tons, but the production capacity exceeds 1.5 million tons, forming a contracted production, and no supply contract will stop production. The production situation of large enterprises with higher reputation, such as Qinghua, Jinlong, Jinhui, Fucheng, and Huailin, is better. However, some existing supply contracts are only sufficient for production for one to two months. About 40 small companies are currently in a state of semi-stop production and shutdown.

　　5. Sales prices have fallen. After a lot of work, the sales price was raised in July this year, and the company has nearly reasonable profits. However, in October, due to user reductions and overcapacity, market supply exceeds demand, enterprises have serious inventory backlogs, and market prices have fallen. The average price of fused magnesia per ton is nearly 200 yuan; the market price per ton of products has fallen by 200-500 yuan.

　　6. Corporate profits have declined, and some companies have suffered losses. Due to the reduction in market demand and excessive production capacity, the market has increased oversupply and accumulated inventory. It is inevitable that low-price auctions will occur and market prices will fall.

　　7. It is difficult to withdraw the payment, and it is difficult for the company to continue. The steel mills purchase raw materials at high prices (iron ore powder 1700 yuan/ton), and the steel prices are now drastically reduced, and they are rarely sold. The company is losing money and it is difficult to cash in the wages of workers. It is difficult to recover the payment, the capital is difficult to turn around, and the production is difficult to sustain.

　　8. The enterprise cuts or suspends production, the employees are on vacation, and they are unemployed. According to incomplete statistics, the refractory enterprises in Yingkou City have reduced or suspended production, and nearly 6,000 employees are on vacation. If it continues to develop, it may reach 15,000 employees on vacation and unemployment. This needs to be taken seriously.

　　Due to the impact of the "financial tsunami", market demand has decreased, which has aggravated the contradiction of oversupply in the market, serious inventory backlogs, market prices have fallen, corporate profits have been meager, and some companies have ceased production at a loss. Bring more severe tests to the industry and enterprises.