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China, factory floor of the world
Average daily wage is US $0.6, compared to $1.40 in Mexico, $2.5 in
Malaysia, $5.0 in Singapore and $12.0 in the US, or even India's $0.8.
Half of Chinese exports made by foreign companies, and almost six
times larger than India's in total.
Exports 25 per cent of GDP, but 40 per cent of GDP growth.
Beware of the jungle capitalism effect: you sell into China; within six
months you are copied, you cannot compete locally on price, and
China-made goods are exported, competing for your export markets.
Compared to India, China's can-do attitude and market size make it
possible to set up facilities for local and export markets more easily
and quickly.
Quality not so much an issue anymore.
Contrary to other Asian countries, holds on to low-key industries while
increasing its hi-tech manufacturing base.
All multinationals are setting up procurement offices in China.
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