How do knitting companies respond?
US stocks melted for the third time this month. Is the financial crisis approaching quietly? How do knitting companies respond?
Affected by the severe epidemic situation and other factors, the Federal Reserve unexpectedly announced a rate cut of 100 basis points on Sunday and launched a US $ 700 billion quantitative easing plan to scare down global markets, failing to save investor confidence. On March 16, US stocks opened sharply lower. It fell about 2200 points, and the technology, oil and China stocks sectors tumbled. The S & P 500 index fell 7%, triggering a third blowout this month. Trading resumed 15 minutes after the market closed. US stocks continued their downward trend. The S & P 500 Index is now down 9.3%, the Dow is down nearly 12%, and the Nasdaq is down 11.6%. Boeing fell more than 20% and Delta Air Lines fell 16.63%. US stocks and Chinese stocks weakened. Alibaba (BABA) fell 8.7%, JD.com (US stock JD) fell 14.23%, Baidu (US stock BIDU) fell 10% and Pinduoduo fell 9.8%.
On the same day, the Brazilian IBOVESPA index opened down 12.5%, triggering a circuit breaker. The Reserve Bank of New Zealand, the Hong Kong Monetary Authority, the Macau Monetary Authority and the UAE Central Bank also followed suit to cut interest rates ...
A new financial crisis is imminent?
U.S. stocks melted so frequently, and as central banks in other countries followed up on interest rate cuts, more and more people began to worry about future economic development, and some even pessimistically believed that we were on the cliff of the new financial crisis.
Is this really true? Relevant financial scholars said that when the US stock market fell by more than 50% and accompanied by the collapse of a large number of financial institutions, it can be regarded as a financial crisis, but it is still far from that level, so everyone need not be overly alarmed.
Although the current epidemic has caused some impact on the economies of various countries, it is still mainly reflected in the middle of the industrial chain and terminal consumption, and the impact on other aspects has not yet been reflected. In addition, with the continuous progress of the resumption of production and production in China's manufacturing industry, the end-consumption is gradually improving, and the degree of domestic impact from the epidemic is gradually decreasing.
What is more complicated now is that if the epidemic situation in Europe, America, and other Asian countries deteriorates in the future, and it will take a long time, it will have a greater impact on China's import and export trade.
what can we do? Experts give two suggestions
After three consecutive US stock meltdowns, many companies felt greater pressure for development. How many more fuses will there be behind? Where should we go in the knitting industry?
In response to this problem, some financial experts have given two suggestions: First, we must accelerate domestic industrial upgrading, reduce external dependence on high technology, and further stimulate effective domestic demand. Secondly, we do not need to panic. As China's epidemic situation gradually improves, domestic consumption will soon be restored. From the current point of view, we are gradually increasing our initiative to weather this difficult time. To truly break through the siege and achieve these goals, we must also play the role of entrepreneurs and fully mobilize the enthusiasm and creativity of entrepreneurs. "Wuhan Come" is transforming into "Boss Come".
The more I face the difficulties, the more I can show an entrepreneur's ability to innovate and adapt to the market. This can be fully explained from the toughness development experience of China's knitting industry in the past decades. In the face of this epidemic, we truly appreciate the industry's rapid response capabilities and technological progress. For example, the warp and weaving machinery of Hengtian, Hengtian Heavy Industries, etc. quickly switched to the development and production of mask machines and mask beading machines that ran out of China's speed and realized the role of central enterprises. The rapid transformation of Jihua Group and Sunshine Group to produce protective clothing reflects the overall situation of knitting people and the nature of rapid response. All of them indicate that the knitting industry has always had strong technical innovation capabilities. They can respond quickly at critical times and fully demonstrate the industry. This kind of conversion not only alleviates the shortage of anti-epidemic medical supplies at a certain level, but also highlights the connotation of the new positioning of the industry's science and technology. Of course, many companies in the knitting industry have switched to producing medical protective products. To a certain extent, it has indeed eased many pressures such as the inadequate coordination of the industry chain itself, but we must also realize that this short-term expansion of epidemic prevention equipment production may Expand export capacity in the next few months, but after the epidemic is over, it is likely to become excess production capacity. So from now on, we should set about setting the post-epidemic era.
后 The post-epidemic era belongs to the era of creating customers
The current frequent meltdown of U.S. stocks has not yet revealed a more obvious fatal impact on the development of our industry. But for every knitting company that has weathered the storm in the market tide, it should be ready to deal with various risks at this time.
It is undeniable that three meltdowns of U.S. stocks in January gave us a wake-up call, and this global epidemic has indeed given the global economy an unpredictable challenge, but people who have recovered from the virus will often have immunity Similarly, companies that have survived this epidemic will inevitably have greater ability to resist economic risks, accumulate more power, and are destined to be among the top teams of high-quality development teams faster.
So, how should the knitting enterprise develop in the future? How should we carry out industrial upgrading and innovation? Some of the theories of Peter Drucker, the father of modern management, may give us some inspiration. He believes that the purpose of the company is to create customers, not to create profits. Companies should identify and meet customer-unaware needs. In his view, enterprises have only two basic functions: marketing and innovation.
According to Drucker's theory, it is not difficult to understand that if the previous era belongs to the company that is good at "managing customers and markets", the winners in the future will belong to the companies that are good at "creating customers and markets". At present, the diversified development and cross-border competition among various industries are beginning to create a series of new business opportunities. As early as after the end of SARS 17 years ago, innovative consumption models such as Taobao and JD.com have been “forced”. We also believe that after this epidemic, there will definitely be newer consumption patterns emerging, and those who can achieve these cross-border innovations must be innovative companies. For example, in the context of the shortage of masks, many knitting companies or companies outside the industry have begun to produce masks, while some investment companies are preparing to invest in mask vending machines; Tencent and Ali use health data launched by big data to provide resumption of production and resume production. In some regions and markets, cloud exhibitions have been launched for online trade fairs, etc., all of which are a prototype of the thinking of "creating customers".
Facing the current intricate development environment, especially for small and medium-sized enterprises with more development problems, everyone should now calm down and think carefully about how to take a step forward in cross-border innovation and actively invest in creating market competition for customers at an early date. In order to turn this idea into reality, it is essential to rely on talents with innovative thinking and pioneering ability. It can be foreseen that the era of future cross-borders will be an era of true competition for talents.