The Chinese consumer engine of global growth?
The year 2010 marked a turning point. So far, China watered the world of its products at low prices and welcomed investment from companies around the world, fascinated by the huge market provided by the prospect of producing low cost. But in 2009, more than half of China's exports were carried by foreign companies or joint ventures.
But this strategy, which allowed consumers Chinese and especially the government to reap huge financial and trade surpluses, is now showing its limits. "The Chinese have realized the dangers of too much dependence on foreign markets, says economist Patrick Artus, Research Director at the bank Natixis. Since 2008, they estimate that it takes longer count on Europe and the United States to pull them grow. "New fact, they no longer hide their contempt for Westerners.
NB: European officials are still surprised to hear recently, Chinese officials came to negotiate
"You Europeans think you live in a big Switzerland, but you live in a large Greek."
For China, the Chinese consumer must become the engine of the economy. The development of China will increase by the affluence and the emergence of a middle class bloated. In 2010, the Chinese minimum wage has grown by 24%. Not surprising that domestic consumption has increased by 19%!
authorities now have an obsession: to get faster pace with international standards and conduct an upmarket industrial. Their intent is to out as soon as possible to export cheaply, because they know that rising labor costs but also the yuan, which the United States argue forcefully, sooner or later will decrease their external competitiveness. Better to sell products with high added value it is better to sell cars and trains as shirts and shoes.
Olivier
China Strategy
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