In years past, the China trade shows were dominated by American buyers. What we’ve seen at the trade shows in April 2009 and so far this October is an increase of attendees from the developing world. It is not for nothing that PassageMaker opened our first two satellite sales offices outside of the USA in Mexico and Brazil.
This article from the NYT provides a good overview of the current situation. Key paragraphs:
As throngs of prospective buyers swarmed the exhibitions, equal to five times the floor space of the Empire State Building, Chinese exporters were upbeat. By keeping China’s currency, the renminbi, tightly yoked to the weak and weakening dollar, Beijing had made Chinese exports increasingly competitive around the world.
“We are very confident,” said Liu En Tian, the marketing manager of the Huasheng Jiangquan Group, a manufacturer of ceramic tiles in Linyi City. “Already the buyers who are coming this morning are more than last year.”
Like those of many Chinese manufacturers, his company’s exports fell by nearly half last winter because of the global economic slowdown, but they are now down only 20 percent from their peak more than a year ago because of a surge in sales to South America and the Middle East. “The economy will get better very soon” around the world, Mr. Liu said. [ed. – emphasis added]
While Washington seems hell-bent on borrowing / printing / spending money in reckless abandon, almost as though they want to destroy the dollar and the rest of the USA economy (much to the horror of American businessmen like me), other markets around the world are recovering quite well. It seems that many nations know that Keynesian economics is bunk without having to try it out each and every generation.
I’ve avoided commenting on the decline of the dollar, mainly because it feels like commenting on a slow motion video of a train full of children hitting a bus load of nuns, but as a global company PassageMaker is working daily to position ourselves to take advantage of the global rebound. We have sales representatives in Mexico, Brazil and Europe and are interviewing for sub-Saharan Africa, India and Australia. Like it or not, China is a global player and PassageMaker is well positioned to help our clients succeed in China. Please contact us an let us know how we can be of assistance.