NEW YORK, March 1 (Xinhua) -- As a hub of the global toy industry, China's crucial role in the supply chain won't be shaken by a potential coronavirus-related impact, a U.S. toy industry executive has said.
"A great workforce, good factories, and a vertically integrated supply chain" have propped up China's unparalleled capability in toy manufacturing, Steve Pasierb, president and CEO of the U.S. Toy Association, a New York-based non-profit trade group for the U.S. toy industry, told Xinhua in a recent interview.
China, currently the largest toy manufacturer and number two toy market in the world, is expected to replace the United States to become the largest toy market in 2021, according to the industry leader.
"We are relying on our partners in China. The manufacturing cannot be moved quickly or easily, because there are so many safety standards to be observed," said Pasierb, adding that about 85 percent of toy products sold in the United States are manufactured by Chinese suppliers.
The U.S. toy association chief said safety is the top priority for this price-sensitive sector, followed by cost control.
Chinese manufacturers, having collaborated with U.S. toy businesses over the last several decades, are able to supply cost-effective products that meet a full set of regulations, said Pasierb.
"Manufacturing partners in China are true partners. They're not only making the product, they work with our companies to make the product better, to come up with innovations, to come up with new ideas, new designs."
"So it has been our ideas, their ideas, our brain power, their brain power, which has grown this industry," he added, stressing the U.S. toy industry expects to enhance its mutually trusted and "meaningful, true collaborative partnership" with Chinese manufacturers.
Pasierb said collaboration with Chinese suppliers has made U.S. toy makers more profitable.
The nation's toy industry generates approximately 28 billion annually in sales and supports about 650,000 jobs, according to the U.S. Toy Association.
"The relationship between the United States and China when it comes to toys has a long, healthy future, just given the human dynamic of our business."
Pasierb said the toy supply chain is unlikely to depart China in the foreseeable future.
Commenting on the potential impact of the novel coronavirus outbreak, Pasierb said toy businesses are monitoring the situation closely, but it still remains to be seen what the total economic impact will be.
He believes that factories having remained closed through February and into early March has not become a severe threat yet.
However, "The sooner that we can get back to some decent level of production, the better it is for the industry," he said, noting that assuring the safety of factory workers is the most important thing for now.
"We're sending support -- like materials, masks, whatever we can -- to factory partners in China," he added.
"A great workforce, good factories, and a vertically integrated supply chain" have propped up China's unparalleled capability in toy manufacturing, Steve Pasierb, president and CEO of the U.S. Toy Association, a New York-based non-profit trade group for the U.S. toy industry, told Xinhua in a recent interview.
China, currently the largest toy manufacturer and number two toy market in the world, is expected to replace the United States to become the largest toy market in 2021, according to the industry leader.
"We are relying on our partners in China. The manufacturing cannot be moved quickly or easily, because there are so many safety standards to be observed," said Pasierb, adding that about 85 percent of toy products sold in the United States are manufactured by Chinese suppliers.
The U.S. toy association chief said safety is the top priority for this price-sensitive sector, followed by cost control.
Chinese manufacturers, having collaborated with U.S. toy businesses over the last several decades, are able to supply cost-effective products that meet a full set of regulations, said Pasierb.
"Manufacturing partners in China are true partners. They're not only making the product, they work with our companies to make the product better, to come up with innovations, to come up with new ideas, new designs."
"So it has been our ideas, their ideas, our brain power, their brain power, which has grown this industry," he added, stressing the U.S. toy industry expects to enhance its mutually trusted and "meaningful, true collaborative partnership" with Chinese manufacturers.
Pasierb said collaboration with Chinese suppliers has made U.S. toy makers more profitable.
The nation's toy industry generates approximately 28 billion annually in sales and supports about 650,000 jobs, according to the U.S. Toy Association.
"The relationship between the United States and China when it comes to toys has a long, healthy future, just given the human dynamic of our business."
Pasierb said the toy supply chain is unlikely to depart China in the foreseeable future.
Commenting on the potential impact of the novel coronavirus outbreak, Pasierb said toy businesses are monitoring the situation closely, but it still remains to be seen what the total economic impact will be.
He believes that factories having remained closed through February and into early March has not become a severe threat yet.
However, "The sooner that we can get back to some decent level of production, the better it is for the industry," he said, noting that assuring the safety of factory workers is the most important thing for now.
"We're sending support -- like materials, masks, whatever we can -- to factory partners in China," he added.
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