Posts by itorres

Labor Strike Tactics in China

Increasing labor costs have become a major concern for foreign companies mulling whether or not to invest in China, but this may not be the only labor-related issue they should be watching out for. As the recent global economic downturn brings about falling factory orders, an abundance of young, well-educated and computer-savvy Chinese workers are leading one of the country’s strongest waves of labor unrest and labor disputes, which could cause real damage to companies’ regular day-to-day op...

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China Being EU’s Top Trade Partner

Trade between China and the European Union (EU) totaled 35.6 billion euros ($49.4 billion) in July, allowing China to overtake the United States as the EU's largest trade partner, the Ministry of Commerce said, citing the latest statistics from Eurostat.   The overall value of China-EU trade in July exceeded that of the EU and the United States by 800 million euros, accounting for 13.4 percent of the region's total imports and exports, according to data released by the EU's statistics...

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China: ASEAN Prime Trade Partners

Indonesian exporters and importers regarded China and ASEAN countries as their prime business partners within the next six months, a report released by Hong Kong Shanghai Banking Corporation (HSBC) said on Wednesday.   The report that was yielded from the results of a bank's Trade Confidence Index (CTI) survey said that Germany was also considered as a potential trading partner with positive trade growth prospect.   The report also said that China, Singapore, Japan, the Uni...

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India v.s. China

It seems to be a national obsession in India: measuring the country’s economic development against China’s yardstick.   At a recent panel discussion to commemorate the 20th anniversary of India’s dismantling parts of its socialist economy, a government minister told business leaders to keep their eye on the big prize: growing faster than China.   “That’s not impossible,” said the minister, Palaniappan Chidambaram, who oversees national security and previously w...

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Blue Economy in China

Coastal areas of Shandong, Zhejiang and Guangdong to spearhead sector development   The oceans have often played an important role in shaping the history and charting the destiny of nations. But in modern times the oceans have taken on a different hue with a strong blue (marine) economy holding the promise of steady and sustained economic growth.   China, despite its vast huge coastal resources, has never been able to gain significant economic advantage from them due to...

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China’s New Biggest Export Destination

China became South Africa's top export destination at the end of 2010 due to strengthened bilateral trade links, according to South African ambassador Bheki Langa.   Investment between the two countries surged to nearly seven billion US dollars at the end of last year, the ambassador told Xinhua in a recent interview. China Customs statistics show that trade between China and South Africa totaled $25.6 billion throughout 2010. Imports from South Africa reached $14.8 billion dur...

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Manufacture set for slower contraction

China's manufacturing may contract at a slower pace in August as the world's second-biggest economy weathers slumping global confidence.   A preliminary reading of 49.8 for a manufacturing index released by HSBC Holdings PLC and Markit Economics on Tuesday compares with a final reading of 49.3 for July. The final August number is due on Sept 1. A reading below 50 indicates a contraction.   The data suggests that growth in China is moderating rather than collapsing and the s...

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Made-in-China Loses Its Cost Advantage

China's manufacturing cost advantage has been cut by almost 20 percent and multinational companies are reducing the procurement of consumer goods from China, China Business News reported.   The paper quoted Shanghai International Sourcing Promotion Center as saying that due to the rising raw material prices and yuan appreciation trend, the cost advantage of "Made in China" has been cut by close to 20 percent. Many purchasing orders of consumer goods have transferred from China to Sout...

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China, 3rd Highest Labor Costs in Asia

An average worker in China costs more than the average worker in any other emerging Asian economy, save Malaysia and Thailand, when considered in terms of combined salary and welfare payments, China Briefing has found.   Conducting a review of minimum labor costs, determined by the legal minimum amount stipulated in 15 different countries, and added together with the pertinent mandatory welfare payments due, it is apparent that since the introduction of the revised labor law in 2008, ...

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China’s Logistics: New Artic Sea Way

The use of Arctic shipping routes is doubling this year as global warming makes it more convenient to traverse the Arctic Ocean when servicing Russia, Europe and Eastern China.   Escorted by Russian ice-breakers, the Arctic routes are being used from now until October. The first vessel to use the route this year is a Singaporean tanker, carrying gas condensate from the Russian Novatekc Purovsky gas processing plant to the city of Ningbo on China’s eastern seaboard. The arctic route ...

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