Guarantors have become the lenders of last resort to small manufacturers who increasingly are getting squeezed by tight credit as well as soaring wages and other production costs.

担保人已日益成为受到信贷紧缩、工资大幅上涨和其他生产成本激增挤压的小制造商的最后能够求助的贷款人。

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In April, Credit Suisse forecast that one-third of all export-oriented manufacturers could close within three years.

四月份，瑞士信贷预计三分之一的仰赖出口的制造企业会在三年内关闭。

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Carmakers and other manufacturers will no longer extend credit and loans will become elusive and expensive.

汽车制造商和其他制造企业将不再扩大信贷额度，贷款将变得艰难又昂贵。

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Lack of credit not only hurt banks but manufacturers, too.

VOA: special.2009.01.02

However, smartphone manufacturers will be hoping that enhanced credit cards will be quickly replaced by NFC - near-field communication - alleviating the need for physical payment cards altogether.

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Former Bush economic adviser Larry Lindsey recently came up with a good idea in the Wall Street Journal to unclog the tightening credit arteries: Allow manufacturers and retailers to open up their own in-house banks or financial institutions that could borrow and lend money.

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Would it make sense to continue extending cheap credit to state-owned heavy manufacturers at the expense of greener private-sector start-ups?

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