By  on October 29, 2008

BEIJING — The stream of factory closures in China’s manufacturing sector this year risks turning into a hemorrhage of lost jobs and production as global demand for Chinese-made goods slackens because of the international economic crisis.

Business analysts and factory managers in the industrial centers of China said the outlook is bleak except for the largest and most competitive companies and factories. Rising labor costs and more expensive raw materials have pounded the manufacturing sector, and slumping demand from the U.S. and Europe is likely to worsen the situation dramatically.

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