Ya gotta hand it to them, that is some nice marching. Everyone together, no stragglers, no one forgot their hat. Impressive.
China is the source of most of the world’s shoes, most of the world’s apparel, most of the world’s toys and most of the world’s solar panels. It produces more cars than any other nation. Yet, how many Chinese brands do you know? Haier maybe. So who sells all those Chinese shoes, skirts, shirts, toys and other consumer goods? U.S. multinationals, that’s who. L.L. Bean, J Crew, Nike, you name ’em, they all make their goods in China. Between 1993 and 2006, approximately $1.34 trillion worth of foreign direct investment flowed into Chinese factories. That investment was instrumental in the process of replacing American manufacturing workers with Chinese manufacturing workers. $1.34 trillion is not chump change. That investment allowed China has become the offshore production facility for a host of “American firms”, Apple being only the most well-known.
I came across a great article on the subject of China, its curious economy and corporate America’s role in promoting that economy the other day. I recommend the article to you highly if you want to learn about the true nature of the Chinese economic juggernaut. It also has the added benefit of featuring one of my favorite “real” American firms, Wigwam Mills, a firm that not only designs its products in this country but miracles of miracles actually makes them here as well. What a novel concept!