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Part of the reason could be the difficulty of getting loans, and the fact that buyers now must make down payments of 50 to 70 percent.
She said this week that the new American trade law had helped her to offset some of the many barriers to selling to the United States, including the difficulty of getting loans for equipment and materials at affordable interest rates.
Two New Vernon, N.J., men are set to be arraigned today on charges that they stole $27.7 million under the guise of getting loans in 1999 and 2000 in a scheme prosecutors said took advantage of retirees.
Ms. Seidman said the Federal Reserve and others had voiced concerns that loans might not be moved from the first bucket to others quickly enough, and that in some cases the goal of getting loans written down more quickly would be frustrated.
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Now people may say, "Well, 1929 was horrible," but the fact of the matter is that's 20 years almost of not getting loans into the economy.
You had lots of people getting loans who had no business borrowing money.
Foreign representation on corporate boards is low, and foreign-born entrepreneurs complain of difficulty getting loans.
Most of those getting loans from the bank are women, who are encouraged to form self-help groups.
I see them in towns across America, where a credit crisis threatens the ability of students to get loans and states can't finance infrastructure projects.
You can usually do this through a combination of paying cash, getting loans, and securing grants.
The Office of National Statistics said in October that the number of firms able to get loans fell to 65 per cent last year, down from 90 per cent in 2007.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com