Changing China needs to create more
Updated: 2013-05-16 08:01
By Zhu Yuan (China Daily)
Of course, the situation in China's processing industry is different and so is the situation of migrant workers, who did not even have time to enjoy the good days before their jobs went elsewhere.
It is only natural for transnational firms to seek higher profits in other developing countries such as India, Vietnam, Indonesia and some South American countries where the cost of labor is lower. That is the way the world economy runs no matter it is fair or not.
For China, it is a question of whether it is prepared for that.
The central government is expecting to deal with the change by transforming the economic growth mode and expanding domestic consumption.
I'm not an economist and know little about economic theories and rules.
You would think that with the world's largest population there should be huge potential in the country for domestic manufacturers to tap. Yet the expansion of domestic consumption will not save the processing industry in today's globalized world.
So where is the way out for the country's processing and manufacturing industry? Maybe we now regret losing the chance of earning ourselves the label of designed or created in China.
But the fact is that it is never too late to change made in China to created in China.
If domestic manufacturers make things of better quality and design than their counterparts elsewhere, it will not be difficult for domestic consumers to accept them. Neither will it be impossible for them to enter the international market. It will not be easy, but that is the way out.
That explains why innovation is the word this country has emphasized when talking about economic growth, manufacturing industries in particular.
The author is a senior writer with China Daily. E-mail: email@example.com