Made in China
By Jerry J. Jasinowski
Whenever manufacturers get together today, the topic of conversation invariably turns to China. The threat of SARS dominates today's headlines, but their greater concern is one of economics.
With astonishing speed, China is emerging as a global manufacturing powerhouse. Backed by an inexpensive labor force, rapidly improving production quality, new sources of capital, a more dynamic private sector and a deliberately undervalued currency, China is supplying a growing range of products to the global marketplace.
Manufacturers are particularly worried because China's production is quickly moving beyond the traditional areas of textiles, toys, and footwear — and into higher-technology production. Machinery imports from China are up nearly 50 percent in the last 12 months. Furniture imports are up over 40 percent, organic chemicals by 40 percent. The list goes on.
Small manufacturers despair of competing against low-cost Chinese products. But even successful multinational corporations express concern and tell us that, unless things change, it is only a matter of time before they have to move production to China. The same story is heard from firms in Japan, Europe and even many developing countries.
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Jerry J. Jasinowski is president of the National Association of Manufacturers.
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