US Capital Month Third Fuses, Is The Financial Crisis Approaching? How To Deal With Textile Enterprises?

Affected by the serious situation of the epidemic, the Federal Reserve unexpectedly announced a 100 point cut in interest rates on Sunday, and launched the $700 billion quantitative easing plan to frighten the global market and failed to save investor confidence. In March 16th, the US stock market opened up sharply, and the Dow fell by about 2200 points. The S & P 500 index fell 7%, triggering third fuses this month. After 15 minutes, the market resumed trading, the US stock continued to decline, the S & P 500 index was down 9.3%, the Dow fell 12%, and the NASDAQ dropped 11.6%. Boeing fell more than 20% and Delta Air Lines dropped 16.63%. Stocks in the US stock market weakened, Alibaba (BABA) fell 8.7%, Jingdong (JD) fell 14.23%, and Baidu (BIDU) fell 10%, beating 9.8%.

On the same day, the Brazil IBOVESPA index opened 12.5% down, triggering a fuse. The New Zealand Federal Reserve, the Hongkong monetary authority, the Macao monetary authority and the United Arab Emirates also follow suit to cut interest rates.

A new financial crisis is imminent?

With the frequent melting of US stocks and the follow up of interest rates cut by central banks, more and more people are beginning to worry about the future economic development. Some even think pessimistic that we are in the brink of a new financial crisis.

Is this really the case? Financial scholars say that when the US stock market falls more than 50%, and a large number of financial institutions fail, it can be regarded as a financial crisis, but it is far from that level, so we need not panic too much.

Although the current epidemic has a certain impact on the economy of various countries, it is still mainly reflected in the industry chain and terminal consumption, and the impact on other areas has not yet been reflected. Moreover, with the continuous progress of China's manufacturing industry resuming and resuming production, terminal consumption is also gradually improving, and the degree of domestic impact on the epidemic is gradually decreasing.

What is more complicated now is that if the epidemic situation worsens further in Europe and America and other Asian countries, it will have a greater impact on China's import and export trade.

What can we do? Experts give two suggestions.

After the three successive melting of US stocks, many enterprises feel the pressure of greater development. How many times will there be in the future? Where should our textile industry go?

In response to this problem, some financial experts have made two suggestions: first, we need to accelerate domestic industrial upgrading, reduce dependence on high technology, and further stimulate domestic effective demand. Secondly, we need not panic. With the gradual improvement of China's epidemic situation, domestic consumption will soon be restored. At present, the initiative to smooth through this difficulty is gradually increasing. To truly break through tight encirclement and achieve these goals, we should also play the role of entrepreneurs and fully mobilize the enthusiasm and creativity of entrepreneurs. "Wuhan refueling" is changing to "boss refueling".

The more we face difficulties, the more we can show an entrepreneur's ability to innovate and adapt to the market. This can also be fully illustrated from the experience of the textile industry's resilience in the past decades. In the face of this epidemic, we really realized the rapid reaction ability and technological progress of the industry. For example, Jingtian textile machinery, Heng Tian heavy industries and other rapid transformation production and production mask machine, mask mowing machine ran out of China speed, and realized the central enterprises to play. Jihua Group and Sun Group's rapid transition production protective clothing reflects the textile people's overall situation and the true nature of quick response. All of these show that the textile industry has always had strong technological innovation capability, and they can react quickly at the critical time and fully display the role of the industry. This kind of conversion has not only alleviated the shortage of medical supplies for epidemic prevention in a certain degree. It also highlights the connotation of new technology positioning in the industry. Of course, a lot of enterprises in the textile industry switch to medical protective products, to a certain extent, indeed alleviate the pressure of the industry chain itself is not smooth, and so on. But we must also realize that the production of this kind of short-term expansion of epidemic prevention equipment may expand the export capacity in the coming months, but after the epidemic is over, it is likely to become redundant production capacity. So from now on, we should begin to plan the post epidemic era.

Post epidemic era belongs to the era of creating customers.

At present, the frequent melting of US stocks has not yet revealed a more obvious fatal impact on the development of our industry. But for every textile enterprise that has gone through the storm in the tide of the market, it should be ready to deal with all kinds of risks at this time.

It is undeniable that the three blow up of US stocks in the first month did give us a wake-up call, and this global epidemic has indeed brought unpredictable challenges to the global economy. But people who have recovered from the virus will often have immunity. If they survive this epidemic, they will have greater ability to resist economic risks and greater savings. The force is also destined to reach the forefront of the high quality development team at a faster pace.

Then, how will textile enterprises develop in the future? And how to upgrade and innovate the industry? Some theories of Peter Drucker, the father of modern management, may give us some enlightenment. He believes that the purpose of an enterprise is to create customers rather than create profits. Enterprises should explore and satisfy customers' unrealized needs. In his view, enterprises only have two basic functions: marketing and innovation.

According to Drucker's theory, it is easy to understand that if the former era belonged to an enterprise that is good at managing customers and markets, the future winners will belong to enterprises that are good at creating customers and markets. At present, diversified development and cross border competition among different industries are beginning to give birth to a series of new business opportunities. As early as 17 years ago, after the end of SARS, "forced" Taobao, Jingdong and other innovative consumption patterns. We also believe that after this outbreak, there will surely be an updated consumption pattern, and those who can achieve these cross-border innovations must be innovative enterprises. For example, under the background of the shortage of masks, many textile enterprises or enterprises outside the industry begin to switch to production masks, while some investment companies are ready to invest in mask vending machines; Tencent and Alibaba use health codes introduced by big data to provide safety assurance for resuming production; some regions and markets have launched cloud exhibitions and online exhibitions, etc. A prototype of thinking.

Faced with the current complex development environment, especially for small and medium-sized enterprises with more development problems, we should now calm down and consider how to make a first step in cross-border innovation, and actively invest in creating market competition for customers. To turn this idea into reality, we must rely on innovative thinking and pioneering ability. Talents. It is foreseeable that the future era of cross-border is the era of real competition for talents.