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Growth Of Chinese Import/Export

Growth Of Chinese Import/ExportChina has risen rapidly to one of the world’s leading economic powers.  You don’t need to be a big business CEO to see the increase in business links between China and the Western world.   In fact, China just might be the answer to prayers for Western businesses eager to participate in this quickly growing marketplace.

There is no question that China has a number of key advantages. 

  • LABOR COSTS–China is highly populated, and its labor costs are low.  It can typically be as low as $150 per month.  If you’re a foreign company looking to cut costs, this can play an important role for growth.
  • COST OF MATERIALS–China has abundant raw materials such as steel, aluminum and rubber, which are lower priced.  They also have a good, developed industrial base, a good communications network and a stable, still-growing economy.
  • RISE IN TRADE VOLUME–China was influential in the record-breaking 14.5% surge in the volume of exports in 2010 world trade growth.  Import/export continues to rise, and this rise in trade volumes is helping the world trade to recover to its pre-crisis level.  
  • OPEN TRADING SYSTEM–China definitely has an interest in the world maintaining an open trading system.  Since the end of WWII, no country, including Japan, has benefited from free trade more than China.  Due to the trade imbalance in the West, China has had an enormous surplus of foreign exchange.    China’s unprecedented success is greatly due to its embrace of the World Trade Organization and foreign direct investment.

Today, doing business in the modern world is a truly global concern.  Depending on your industry, you may have customers, suppliers, and/or employees, based in a different country.  This is often seen in import/export with China.  China has risen as a major economic power on the world stage in the past few years.  Their economy has shown consecutive years of economic growth.   It often seems unimaginable to China’s competitors in the Western world, how much China has grown.  As import/export rates continue rising, China has grown to be a popular destination in terms of doing business.

Services and products beyond your imagination are usually easily found and available at affordable prices.  Initially, you may face disappointments and setbacks.  This happens in almost any business.  It will take some getting used to, but in the long run, can reap great rewards.  Research thoroughly, prepare yourself for ups and downs, and you can find excellent opportunities.  It can be quite overwhelming at times.   Preparation is the key.   If you understand Chinese customs and ways of doing business, research your product and manufacturer, and are willing to put in the time to make it work, you can be successful in the import/export business.

 

 
 
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