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China's impact on world trade
With economic growth in the range of 7-8 per cent annually and foreign
direct investment exceeding $50 billion per annum, China is clearly a
major force in the world economy whose impact will only grow with time.
For both multinationals and domestic companies, China offers two major
business opportunities:
1) To sell to a large and growing domestic market. China is already the
number one producer in more than 100 product categories and the
number one market in many.
2) To leverage China as a global low-cost supply base.
Exports from China have been growing at approximately 15 per cent for the past decade, driven by low labour costs, but also by favourable industrial policies.
For most companies, sourcing from China is now an imperative.
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