China Manufacturing Growth
China has seen unprecedented growth in the manufacturing of consumer goods in the last decade. It is not really hard to fathom the reason behind this boom. The unending supply of human resource and its relatively poor domestic economy make Chinese labor cheap. Statics show that the Chinese were contributing only 3% to the world manufacturing in 1995, which has skyrocketed to an impressive 11% by 2005. With a growth rate of 20% and the competition at the national manufacturing sector level, the China product development is escalating at a rate unimaginable to any other nation. Currently the Chinese have huge production plants mainly in the telecommunication and computing related products and in the production of electrical products.
China manufacturing is a mammoth sector which runs primarily on the concepts of economical production, fast-tracked manufacturing processes and timely shipping. The customized development of a product and the sharing of these designs, lead to creation of products which are of global standards and are very well received in the global markets. It is true that while around a decade and half ago, the only popular mass production units that China had were in the clothing and shoes department.
Today, however, there isn’t a consumer product available in the market that a China manufacturer cannot deliver. Though the Chinese markets were a little hit during the Hong Kong repatriation, manufacturing in China was soon up and running mainly due to the direct investments from the foreign countries, which incidentally crossed the seventy-five billion mark in the year 2007.
A direct result of the booming manufacturing industry in the country has the result of better standards of living for Chinese citizens. With a huge percentage of the country’s population working in such sectors of continuous research and development, China is hyped to be the next educational nucleus of the world. One has to bear in mind that the China manufacturers are quite particular about quality control in China and only churn our world-class goods, making them more popular in the world markets. Many tests are performed and the design is constantly improved until they reach a flawless state, after which only the product goes ahead and is available in the market. It is very rare that a China manufacturer churns out a product to bad reviews.
China Manufacturing is taking over all of the world markets and other countries need to put up a really good fight, or else bow to the China superiority pretty soon.