the truth about china
DESCRIPTION
This quarter's AsiaInspection Barometer dives deep into the the current state of affairs in manufacturing and trade across the globe, with a special focus on the US and China.TRANSCRIPT
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AsiaInspection Barometer - Q1 2013
The Truth About China
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news.thomasnet.com/IMT/2013/03/14/china-widens-lead-as-worlds-largest-manufacturer
Of the world’s goods now come from China
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$2.9 Trillion USDIn 2012 their manufacturing output reached
news.thomasnet.com/IMT/2013/03/14/china-widens-lead-as-worlds-largest-manufacturer
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than the US ($2.43 Trillion)
20%moreThat’s…
news.thomasnet.com/IMT/2013/03/14/china-widens-lead-as-worlds-largest-manufacturer
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45 Airbuses
If you were to fly that money to the US in $100 bills you’d need
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There are talks of manufacturing returning
to the West, but…
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US manufacturing output dropped
in Jan 2013-0.4%
Source: http://www.federalreserve.gov/releases/g17/20130215/
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US imports from Asia increased
in Jan 2013+23%
Source: http://www.zepol.com/BLOG/post/2013/03/15/US-Customs-Trade-Data-February-2013-Import-Update.aspx
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And the EU also saw a big decline in
manufacturing output in Jan 2013
-1.7%
Source: http://www.tradingeconomics.com/euro-area/industrial-production
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Western brands say that they want to bring
manufacturing "back home"
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committed to invest US$50 billionin “Made in America” products over the next 10 years
http://www.reuters.com/article/2013/01/15/us-walmart-us-idUSBRE90E0MB20130115
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But this only amounts to
0.93% of their total sales
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So can the West really compete?
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China is predicted to be the worlds
BIGGESTeconomy by 2016
Source: http://www.oecd.org/eco/surveys/economicsurveyofchina2013.htm
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but…
quality & safetycan be hit and miss
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16,000diseased pigs
were dumped in Shanghai’s drinking water in March
Source: http://www.guardian.co.uk/world/2013/mar/29/dead-pigs-china-water-supply
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It’s hard to visualize that many pigs…
But if they were to line up, they’d cover
28.8km
HHHH
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HHHHUnderground traders buy pigs that
have died from disease and sell them
$
The scariest part is…
Source: http://english.peopledaily.com.cn/90882/8191519.html
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There is a silver lining though…
In Q1 2013 Inspections of Food and Food Packaging items surged
+212%
Source: AsiaInspection Internal Figures
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And overall inspections performed in China increased
+27%
Source: AsiaInspection Internal Figures
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But is it enough?
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Factory Fires in Asia killedHUNDREDS
in the past few months
Source: http://www.cleanclothes.org/resources/ccc/working-conditions/fatal-fashion
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Usually because the windows were barred and people couldn’t escape
Source: http://www.cleanclothes.org/resources/ccc/working-conditions/fatal-fashion
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“The only safeguard for workers and brands is to ensure business is
conducted only with factories that meet or exceed safety standards”
Sebastien Breteau, CEO of AsiaInspection
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Manufacturing growth in Asia is boomingdespite these challenges and China is
branching into new areas
+42% +212% +36%
Industrial & Mechanical Items
FoodProducts
Body Care Products
Source: AsiaInspection Internal Figures
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The Truth about China?
It’s going to be hard to catch…
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