Chinese products
Chinese products are today most sought after products. Chinese products have entered almost every facet of day-to-day life either in form of small tumbler used in bathrooms to the big electronic gadgets .Earlier when China started spreading their wings in world market; eyebrows were raised regarding its quality. Being a volume producer, China could neither have stringent quality norms nor the lower cost of the finished products allowed the manufacturers to go for quality control. So Chinese products were mostly used as use and throw goods .But at present the cost advantage of Chinese products is attracting buyers from all over the world. In fact the countries like UK and USA have become major buyers, sourcing goods from China directly. And almost all giant manufacturers whether in automobile sector, garments, accessories, electronics, electrical products or even ceramic goods looks at China as the best sourcing destination. The Gross Domestic Product (GDP) figure of China in 2008, which stands at $7.8 trillion, is growing at the rate of 9.8%. Again manufacturing or industrial sector contributes greatly in the GDP of China and have 49.2% share in the country’s GDP. It is quite evident from the figures why China is second largest economy of the world after US. Further the country boosts of having a huge manpower of 200 million rural populations, who have migrated to urban areas in search of work. This large manpower is the actual reason for the lower cost products, as the labour charges are just half or in some case mere one-third as compared to other countries. This huge labour force is another reason why most of the giant manufacturers are setting up the manufacturing base in China.
Chinese products are being used aggressively by the branded players too, who places bulk order in China at lower cost and finally sells the branded articles at higher price, fetching huge margins. In fact certain automobile companies have their engines being manufactured in China and then it is imported and assembled in India or in any other country.
Gradually the insecurity while purchasing a Chinese product amongst the buyers is fading away as the Chinese manufacturers too have started following the standards as mentioned by the sourcing company. Because while supplying to the countries like Europe and US, quality is the foremost requirement .Therefore the manufacturers are being constantly instructed regarding the quality norms. This system has slowly percolated in entire manufacturing system of China, resulting in better products and lesser use of harmful constituents. Apart from the pressure from buyer’s side, the environmental factor too is playing a pivotal role in improving the quality of the lower cost Chinese products. Increasing pollution due to the over usage of harmful and cheaper raw materials, has already threatened Chinese government compelling the government to introduce strict quality control and environmental protection norms.
Moreover in last several years, technological advancement coupled with cheaper labour, electricity, water supply ,Chinese products have come a long way that today ensures low cost and durability.
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