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It's official: Last year China became the world's second-largest economy after the United States, surpassing Japan. In 2010 China boasted a GDP of $9.872 trillion and a GDP growth rate of 10.3%. This remarkable growth has effected significant changes to traditional dynamics between China and the rest of the world economy.
"For a long time, the market structure in China was quite simple," notes a 2010 Credit Suisse report on Chinese companies. "Domestic companies mainly focused on cheap low-quality products, while Western companies targeted the premium segment. The competitive landscape is, however, evolving very rapidly. Chinese capital goods companies are steadily climbing the quality ladder."
This is only an excerpt of the full article that appeared in P&F Magazine. The full content is not currently available online.