The World’s Factory: China Enters the 21st Century
A Deloitte Research Consumer Business Study (August 2003)
Today, China is competitive in many advanced technologies and is challenging the exporting prowess of other emerging markets — not to mention developed countries such as the US and Japan. With its entry into the World Trade Organization (WTO), China is set to become an even more powerful force. The result will be new competition for China's burgeoning private sector, accelerated privatization of the lumbering state sector, greater opportunities for global suppliers to reach Chinese consumers and greater potential for Chinese companies to compete with those global giants.
China also will present important risks. These include the likelihood of currency revaluation, the possibility of a banking crisis, the social unrest that could follow further privatization and the risk that Western nations will impose new restrictions on Chinese exports. Despite these challenges, China will increase its share of the global export market — not just on the basis of low costs, but because it is becoming a world-class location in which to produce a wide range of goods. Learn more from the PDF file attachment below.
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