Product-safety recalls don’t seem to have put much of a crimp in China’s toy exports. They grew 20% to $7.1 billion in the first ten months of 2007, reports Xinhua. That’s triple the growth rate for the same period a year earlier.
Exports to the U.S., where the product safety concerns moved the China issue to the front pages and evening news broadcasts, sales rose by 13% , fivefold the growth rate a year earlier. Those to the E.U., which has more stringent safety standards, rose by 30%, a growth rate of similar magnitude to the U.S’s.
Between them, the U.S. and the E.U. buy two thirds of China’s toy exports. Rising oil prices, which affect plastics’ prices, are probably a bigger worry to toy makers now than consumer concerns.