At present, China’s manufacturing industry ranks first in the world and is the only country in the world with all industrial categories. Many goods made in China are now unique and irreplaceable in the global market.
A new development is that the latest report released by Goldman Sachs not long ago stated that China’s overall advantage in manufacturing is intact. For example, the car company Tesla plans to export Model 3 cars made in China to other Asian markets and Europe. Tesla CEO Elon Musk said “China’s suppliers are extremely competitive, probably the most competitive in the world.”
Elon Musk
Reuters reported two weeks ago that many retailers in the United States are stepping up their efforts to import Christmas goods. For example, an American board game manufacturer imported goods from it A factory in China ordered an additional 1 million sets of cards to prevent the coronavirus from ruining the company’s Christmas sales. Guo Hong, an Asian American, said that almost all stationery in children’s schoolbags, including thumbtacks, glue, stickers… without exception.
At a hearing in the United States a few weeks ago, an American consumer was asked by a reporter, “Are there any substitutes for the Chinese product you imported?” Answer: “No, American consumers just like this Chinese product.” Looking at the Indian market, since September, many large-scale export-oriented textile companies in India have been unable to guarantee normal delivery due to the epidemic. In order to ensure that supply is not affected, European and American retailers have Transferring multiple orders originally produced in India to China.
Among the orders transferred from India to China, orders for towels, bed sheets and other products are relatively large. Some factories that have received “reshoring” orders from India expect that, The current order quantity has been scheduled until May 2021. In other words, Indian manufacturing orders are being transferred to China. For example, in June this year, a company in Jinhua, Zhejiang suddenly received a long-term order for hundreds of thousands of tablecloths from Spanish ZARA that was supposed to be produced in India. Currently, orders from many Chinese textile companies have been scheduled until May next year.
As for Made in India, Pirin, editor-in-chief of the Asian edition of the Financial Times, analyzed earlier that Made in India does not have a good reputation. Even the Indians themselves look down on domestic products. The so-called “patchwork innovation” of Made in India is the product of scarcity of materials – Indians put the parts together with tape, paint and prayers. The name Made in India has a resounding name, but it seems like “Mirage”. ”
Take the “Indian High-Speed Railway” as an example. Since the first run of India’s fastest domestic train “Salute to India” in February last year, accidents have occurred frequently .In fact, the “Salute to India” cannot be called a high-speed rail in the true sense, because its maximum test speed is 180 kilometers per hour, and its actual maximum operating speed is 160 kilometers per hour, so it is called a “semi-high-speed rail.” This is also The Indian economy has been eager for quick success in manufacturing and other fields in recent years.
Like American consumers, Indian consumers also believe that Chinese manufacturing is even more irreplaceable. “Hindustan The Times earlier quoted a survey report showing that 83% of the 8,973 Indian consumers surveyed said that the dual advantages of price and quality of Chinese products are irreplaceable.
So, what is happening with Vietnam’s manufacturing industry, which is trying to significantly increase its manufacturing exports? A new development is that due to the sharp decrease in orders for Vietnam’s manufacturing industry from Western markets such as the United States, , leading to weakness in Vietnam’s light industrial products, decline in export orders, and massive unemployment in Vietnam’s factories.
At the same time, data shows that Vietnam has only 55 million manufacturing workers, which is inconsistent with the large number of manufacturing workers. The level of labor resources required for goods is very different. In terms of production capacity, Vietnam is not self-sufficient in many production raw materials. For example, in Vietnam, the production of non-woven fabrics for medical goods is not yet self-sufficient and relies heavily on Chinese companies. Import.
CNBC earlier quoted expert analysis as saying that global manufacturing factory facilities will become more dispersed, and Vietnam in Southeast Asia is unlikely to become the next world factory.
</p
