Pros And Cons Associated With Importing Merchandise From China: Important Recommendations

Whenever we see the label "Made in China" we are reminded that China is a place where goods are produced for a fraction of the US cost and sold to more than a billion potential consumers. Corporate giants such as Wal-Mart are investing heavily in China. Thousands of small to medium sized companies are getting in on the action as well. In fact, it can be said that 2000 was the decade that got thousands of entrepreneurs to investigate how to import goods from China.

China has enjoyed an average 9.5% annual growth during the past decade, and its Gross Domestic Product (GDP) skyrocketed from $ 300B in 1985 to $ 1,600B in 2004, higher than the state of California. Meanwhile, the foreign trade volume has increased twelve-fold! Foreign direct investment has reached $ 550B during the same interval. China's blistering modernization from 1990-2010 made importing goods from China very interesting to retailers across the globe.

The country's first production census discovered that from 2004 to 2007, the GDP growth rate was of 10% annually. In 2007, the formally recorded GDP growth rate was 11.4 %. In 2008, the global economic crisis began to reduce China's growth rate. In the face of these forecasts, the government made the decision to pump Rmb (China currency) 4 trillion into the economy in the form of an economic stimulus program consisting primarily of investments in fixed infrastructure and human capital.

Although in early September 2009 mainland China was engaged in new trade dispute with the US over the imposition of an emergency duty on Chinese tires, a serious trade war is unlikely as this is not in the best interest of both countries. Mainland China is the largest creditor of the US, and the US is the Mainland's second largest export market after the European Union. A trade war among two of the world's biggest economies will additionally be detrimental to the global recovery just underway. China import export is here to stay, for now.

Northern Asia commonly (Japan, South Korea, Taiwan, Vietnam, and Mainland China) is a very good place for manufacturing products (Vietnam is like China fifteen years ago).

The obvious advantage of Mainland China today comes from its low production, labor and better quality control practices, making it by far the most attractive place of the region.

Moreover, remember that Chinese suppliers will deliver you with what you ask, even if it is not within their production standards. They possess an outstanding ability to create a very creative design by combining some existing designs you might have submitted to them. While Westerners do not necessarily like (or are even capable to) adjusting their production standards to special customer requirements, a Chinese company would consider this a standard feature of their service.

Sets of standards like ISO or 6-Sigma is not so common in China, but is implemented by the higher end companies. However, regardless of your order volume, quality control with China is a MUST. You need to receive what you order and in the exact way you ordered it. From unsophisticated to complex products you need to oversee quality control with Chinese manufacturers. Implement multiple QC check points during different stages of production. An importer's worst nightmare is receiving a full container load of merchandise that is defective due to a wrong screw size, for example. If you still try to market them, or sell merchandise that you don't know was defective and later falls apart, this equals massive product returns, angry customers, and an accounting/billing department nightmare. As the Supervisor of your own company, you are responsible for ensuring that your products satisfactorily satisfy desired specifications.

Importing Products From China - Suggestions For Aspiring Import Export Businessperson
Perhaps you've wandered into a luggage store in a local shopping mall and wondered where these people get their stuff. Or, you shop on-line for a portable air conditioner and see many sites with impressive product lines, and you think "how do they acquire these products, and how much money are these people making?"

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