Meanwhile, Brazil's exports to China have increased by more than 40,000%!
|A typical construction site in Hangzhou, summer 2011|
Some interesting points were made comparing the West with China:
Towards the end of the gathering I heard (from David Rothwell, an entrepreneur selling wastewater treatment technology to China) the recommendation that Canada should be using the Chinese expats now living here to set up "marriages" with more companies in China. The best import we have from China, he said, are the Chinese themselves.
- In the West, the markets are an end in themselves. In China, they are the means to an end; there's a great desire to catch up technically.
- The West has floating currencies. China has its currency fixed.
- In western countries, consumers tend to consume more than they save, generating a deficit. In China it's the other way round, with a surplus as the outcome.
- Western companies aim to "do what they're best at," whereas the Chinese deliberately invest in order to achieve a greater range of products.