Some non-chinese manufacturing companies could be [and probably are] taking it in the shorts, but the owners and executives of these same companies are getting rich.
In the short term, establishment of manufacturing facilities for high labor content commodity items is a gold mine for the owners/operators, second only the the profit potential of the star trek replicator technology, and as Keynes observed "in the long run we are all dead anyhow."
Unka' George [George McDuffee] ============ Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains.
Thomas Jefferson (1743-1826), U.S. president. Letter, 17 March 1814.
Please give us some of the crumbs of knowledge that fall off your feast table, where owners and executives are raking it in. I don't deal in emotions, but (hopefully) facts.
Traders have been waiting for centuries for the big chinese market to make them rich. Other than the opium wars, I just don't see foreign trade in china as being all that profitable.
I do NOT subscribe to the idea that companies are agents of social change, but are dedicated to earning a return on the capital invested in them.
Unka' George [George McDuffee] ============ Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains.
Thomas Jefferson (1743-1826), U.S. president. Letter, 17 March 1814.
General Motors Corp. plans to invest $3 billion in China in 2004-07 in hopes it will drive a revival for the company, which is cutting production and closing factories in its home North American market.
OK, but the leader of North Korea has, what, 60 some luxury cars? Where the well to do can buy any damn thing, whatever the price, its no wonder.
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Hmm, Rolex sells watches to the Chinese.
Another shared taste with the North Korean leader?
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The new company will have $1.12-million in capital, with equal ownership for the two parent companies. It will be located at Fair Friend's existing Chinese subsidiary, which is already turning out some
1,300 machine tools annually. By comparison, the 20-employee joint venture is slated to assemble 120 NC lathes annually, using Takamatsu's technology and spindles and other key parts that Takematsu will supply from Japan. First-year sales are projected at $7-million.
Meanwhile, Okuma Corp. (Oguchi, Aichi Prefecture, Japan) expects its sales to users in China would total $55-million in the current fiscal year which ends in March. In three years, the volume could reach the magic number of 10-billion yen ($91-million). The figures include low-end vertical-spindle machining centers and lathe sold by Okuma Machinery (Shanghai) Co., founded in 2001. Its products are assembled by BYJC-Okuma (Beijing) Machine Tool Co., a 2002 joint venture between Okuma and Beijing No. 1 Machine Tool Plant (BYJC).
Other than luxury goods for the well to do, it seems china will build a lot of the machinery it needs in china. So other than Rolexes, scotch, and Rolls Royce cars, where is this incomparably huge market of 1 billion people?
Unka' George [George McDuffee] ============ Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains.
Thomas Jefferson (1743-1826), U.S. president. Letter, 17 March 1814.
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