Learn, Change, or be Obliterated: The China Price

I am currently reading “China * Inc.” by Ted C. Fishman.  This is a fascinating and eye-opening expose of how this Asian Tiger has become the world’s fastest developing economy.  Interesting reviews can be found at Amazon.com 

On of the most fascinating learning points of the book relates to the “China price”.  On page 177, Fishman states: “Over much of the business world, the term China price has since become interchangeable with lowest possible price.  The China price is part of the new conventional wisdom that companies can move virtually any kind of work to China and find huge savings.  It holds that any job transferred there will be done cheaper and possibly better.”  These are sobering points indeed. 

Over the past few years have you noticed the trend of how “Made in America” has morphed into “Made in x (pick and  South America country)”, which has in turn morphed into “Made in China”?  What can we learn from this gargantuan shift in the world’s manufacturing base which also has profoundly impacted people around the globe? 

Ø      The world is definitely a smaller place that is connected in so many ways.

Ø      No country has an undisputed right or supremacy over any employment group or industry

Ø      As the world shrinks, the importance of national industries and boundaries is totally diluted

Ø      China’s economic might cannot be ignored as it is dictating how the world’s economy is and will continue to operate

      Ø      Manufacturing industries must change at China’s lightning pace, otherwise they will be obliterated 

The more we learn about China, the more we will start to understand the economic, social, and political realities that are NOT being reported in our mainstream media.

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