According to Businessweek, China has absorbed more than $600 billion in foreign investment since it opened up. It's the number 3 global trading nation and its economy is more open to foreign direct investment than Japan.
Millions of Chinese have come out of poverty...but there is still a billion to go.
Still, China has a huge trade surplus. This will last for a while...maybe forever...that's the case in Japan anyway.
Half of China's exports are from big foreign multinationals or joint ventures they back and use the mainland as a production base. Meaning, China leases her land and her workers out to big companies.
A lot of things these huge companies make are sold in China but they are also re-exported to other markets.
China's high tech sector has about a 90% penetration by foreigners...Motorola, Nokia, et al.
Bottom line...all that growth and exports from China does not all belong to China, does it?
What do you think?
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Growing up as an Asian, I've seen many things that were tagged "Made in China". I believe, nearly everything from children's toys to the shirts on our back have been made in China. I really think that the Chinese products have always been on the market for a very long time. Not all of China's people have come out of poverty, there are even young farmers trying to make it in the industrial world. All exports does not belong all to China.
Posted by: Ben C. Valdez | July 11, 2006 9:48 AM | Permalink to Comment