Low Labor Costs is Number One Reason for Doing Business in China – Survey
150 in-depth interviews of CEOs, Communications Directors, corporate board members and other top officials at major companies throughout the US was conducted.
The following question was asked: What do you believe are the key advantages for a company to conduct business in China?
The following were the options:
Low labor costs
Expanding Chinese Market
Quality of Goods
Support from Chinese Government
Work ethic of labor force
Human capital/quality of Chinese labor force
Low manufacturing cost
Natural resources
Proximity to Asian market
3. The Expanding Chinese market – one in four thought this the most appealing reason to do business in China
2. Low manufacturing cost – 31% – Watch out! India is not far behind and may even be ahead depending on the product.
1. Low labor cost – 52% – this seems to be the same as number two or at least very closely related.
So, why do you think you should take your business to China?
I think the market opportunity is the number one reason.
These survey results were taken from a poll conducted by the Committee of 100.
The Committee of 100 is a national, nonpartisan organization composed of prominent American citizens of Chinese descent. The members of this group pool their resources to address important issues that concern the Chinese/American community but, imho, more importantly foster better US-Greater China relations.
Recently, this group tasked the polling firm ZOGBY to conduct an extensive survey of American Attitudes Toward China.
They polled the General Population (General Public) as well as Chinese Americans. Business leaders, Opinion leaders and Congressional staffers, subsets of the general public were also polled.
In keeping with the Committee of 100 ideals I hope it will create discussion and be used to better understand U.S.-China relations and help those concerned to formulate recommendations on how to improve relationships between these two great countries.
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