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This quarter's AsiaInspection Barometer dives deep into the the current state of affairs in manufacturing and trade across the globe, with a special focus on the US and China. Visit http://www.asiainspection.com to find out more.
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AsiaInspection Barometer - Q1 2013
The Truth About China
Source: http://news.thomasnet.com/IMT/2013/03/14/china-widens-lead-as-worlds-largest-manufacturer/
Of the world’s goods now come from China
$2.9 Trillion USDIn 2012 their manufacturing output reached
Source: http://news.thomasnet.com/IMT/2013/03/14/china-widens-lead-as-worlds-largest-manufacturer/
than the US ($2.43 Trillion)
20%moreThat’s…
Source: http://news.thomasnet.com/IMT/2013/03/14/china-widens-lead-as-worlds-largest-manufacturer/
45 Airbuses
If you were to fly that money to the US in $100 bills you’d need
There are talks of manufacturing returning
to the West, but…
US manufacturing output dropped
in Jan 2013-0.4%
Source: http://www.federalreserve.gov/releases/g17/20130215/
US imports from Asia increased
in Jan 2013+23%
Source: http://www.zepol.com/BLOG/post/2013/03/15/US-Customs-Trade-Data-February-2013-Import-Update.aspx
And the EU also saw a big decline in
manufacturing output in Jan 2013
-1.7%
Source: http://www.tradingeconomics.com/euro-area/industrial-production
Western brands say that they want to bring
manufacturing "back home"
committed to invest US$50 billionin “Made in America” products over the next 10 years
Source: http://www.reuters.com/article/2013/01/15/us-walmart-us-idUSBRE90E0MB20130115
But this only amounts to
0.93% of their total sales
So can the West really compete?
China is predicted to be the world’s
BIGGESTeconomy by 2016
Source: http://www.oecd.org/eco/surveys/economicsurveyofchina2013.htm
but…
quality & safetycan be hit and miss
16,000diseased pigs
were dumped in Shanghai’s drinking water in March
Source: http://www.guardian.co.uk/world/2013/mar/29/dead-pigs-china-water-supply
It’s hard to visualize that many pigs…
But if they were to line up, they’d cover
28.8km
HHHH
HHHHUnderground traders buy pigs that
have died from disease and sell them
$
The scariest part is…
Source: http://english.peopledaily.com.cn/90882/8191519.html
There is a silver lining though…
In Q1 2013 Inspections of Food and Food Packaging items surged
+212%
Source: AsiaInspection Internal Figures
And overall inspections performed in China increased
+27%
Source: AsiaInspection Internal Figures
But is it enough?
Factory Fires in Asia killedHUNDREDS
in the past few months
Source: http://www.cleanclothes.org/resources/ccc/working-conditions/fatal-fashion
Usually because the windows were barred and people couldn’t escape
Source: http://www.cleanclothes.org/resources/ccc/working-conditions/fatal-fashion
“The only safeguard for workers and brands is to ensure business is
conducted only with factories that meet or exceed safety standards”
Sebastien Breteau, CEO of AsiaInspection
Manufacturing growth in Asia is boomingdespite these challenges and China is
branching into new areas
+42% +212% +36%
Industrial & Mechanical Items
FoodProducts
Body Care Products
Source: AsiaInspection Internal Figures
The Truth about China?
It’s going to be hard to catch…
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