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Poorly Made in China: An Insider's Account of the Tactics Behind China's Production Game is a book by Paul Midler, which chronicles his years spent working with American businessmen whose companies' products are manufactured in China. [1]
Material costs, too, will continue to rise and will reach global levels. As the economy slows down, it becomes harder and harder for companies to pass on the costs to customers. China's rising labor costs will help other South Asian countries gain a foothold in low-end manufacturing. [9]
A 50 MW molten-salt power tower in Hami, Xinjiang, China. The industrial sector comprised 38.3% of the gross domestic product (GDP) of the People's Republic of China in 2023. [1] China is the world's leading manufacturer of chemical fertilizers, cement and steel. Prior to 1978, most output was produced by state-owned enterprises.
Manufacturing cost is the sum of costs of all resources consumed in the process of making a product. The manufacturing cost is classified into three categories: direct materials cost, direct labor cost and manufacturing overhead. [1] It is a factor in total delivery cost. [2]
By the early 21st century, goods labeled "Made in China" were often only partially made in China, such as US-designed iPhone. [2] In 2015, China devised "Made in China 2025", the government's ten-year plan to update national manufacturing base by rapid development of local high-tech industry. [3]
The industry has been a major contribution to the modernization of China and the development of new job opportunities. There are many instances of labour exploitation and subpar working conditions. [2] In 2005, China's electronic information sector made up 16.6% of the country's economic growth and its added-value output formed 7% of the GDP.
By early 1980, the country had access to the equivalent of almost US$30 billion in foreign loans and credits termed through 1985. China also sought foreign capital by encouraging joint-venture projects between Chinese and foreign enterprises. But, in early 1986, foreign companies viewed China as a high-cost and high-risk investment area.
The Spanish language has been spoken in California since 1542 and is deeply intertwined with California's cultural landscape and history. [ 234 ] [ 235 ] [ 236 ] Spanish was the official administrative language of California through the Spanish and Mexican eras, until 1848.