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China's Exports Expected To Maintain Growth
By Amelia Walton
A hot issue at the "2003 China Economic Growth Forum" is whether China's economy can maintain its sustained rapid growth. On November 10 Deputy Director of the National Bureau of Statistics (NBS) Qiu Xiaohua said that China's economy is in a new era and six major changes have taken place in the conditions bolstering up China's economic growth. Grab the China opportunity - http://www.china-bay.org
China presents a huge opportunity. A major portion of every manufactured item that is being used today - either fully or partly is Made in China. China has been able to manufacture almost every item at a fraction of the cost as compared to America. The economics of scale, favorable government policies, low cost of labor etc. has made this possible.
In the year 2005 China exported some U.S.$350 Billion worth of manufactured goods to the USA alone and U.S.$700 Billion worth of goods overall. China is an industrial power house. While the value of exports from China to the US was U.S.$350 Billion in 2005 the cumulative value of these goods when it ultimately reached the consumers was estimated to be in the range of U.S.$1200 billion. Obviously these goods are being retailed at a substantial mark up to consumers. A U.S.$850 billion profit is surely substantial.
One Classic example of the above is prominent sports shoe companies. There is hardly any manufacturing facility in America for these companies. The manufacturing is done entirely in China and few other countries. The specialty of
these companies is designing, outsourcing, quality management, brand building, advertising and retailing. While these companies are able to sell their products at a huge mark up and rake in hundreds of millions of dollars in profits, the actual manufacturers in China work on wafer thin margins.
The popular Shoe brands get their shoes manufactured in China for as low as U.S.$4/- a pair and retail the same at a price of U.S$150 upwards.
If you thought Chinese are usurping your jobs and are a threat to American economy it is time these views are changed. It is America and other developed nations that have gained immensely from China. So many who have grabbed the opportunity that is China have prospered beyond imagination.
Let China do the manufacturing and America the servicing. There is far more money to be made in servicing than Manufacturing. It is the service sector that has made America prosperous. America is the country of Managers, Financiers, Traders and Businessmen - not low cost Manufacturers.
Grab the China opportunity and make use of china. Visit www.china-bay.org
China's Reports Rapid Industrial Growth. China reported a total industrial output value of 2136.5 billion yuan for the first half this year. Profit from China http://www.china-bay.org Article Source: http://www.Article-Warehouse.com www.china-bay.org
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