久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Macro

Pain and gain of globalization

Xinhua | Updated: 2017-01-19 10:28

HANGZHOU/ZHENGZHOU - Quandian village has been in the wig business for over a century. It started out by trading needles, combs and forks for hair clippings, and peddling long, straight hair to German merchants.

The village in Xuchang county, central China's Henan province, has been a beneficiary of globalization and is home to Rebecca Hair Products, China's largest wig maker.

"We have 11 wholly-owned companies in Africa, Britain, Brazil and Cambodia, covering a complete industry chain from R&D, manufacturing and marketing to exportation," said Zheng Wenqing, general manager of Rebecca.

Dividends of globalization

The local residents were among the first in China to feel the benefits of globalization.

Yang Ge, 46, lived an itinerant life seeking jobs, before settling down as a worker for Rebecca in 1995. She is now a manager, lives a decent life and owns four houses.

"Many local residents had their life changed thanks to the burgeoning wig industry," Yang said.

More than 95 percent of Rebecca's workers are locally employed, while 95 percent of the company's revenue of $200 million last year came from exports to the United States as well as Africa and Europe.

In Xuchang city, more than 50 hair companies, with annual exports of over $5 million, bring in a yearly income of $1 billion. Exports by local wig companies account for half the hair product exports in China, the world's top hair product manufacturer and exporter.

Globalization became a hot concept at the start of the 21st century, when Thomas Friedman, author of "The World Is Flat," highlighted that globalization had broken geographical boundaries and created a flat global market.

Open markets not only generated tremendous opportunities, but also led to a corporate "survival of the fittest," a scenario true of China's wig industry.

Losing advantages

Behind the good performance, Rebecca has seen its exports shrink in recent years, dropping by 25 percent in 2016.

Sluggish overseas market demand since the 2008 financial crisis and overcapacity led to a slump in profits for domestic wig producers, according to Wang Xixiang, executive secretary of the China Hair Products Association.

"About one-third of hair companies have closed, while some bigger ones are filing for bankruptcy protection," Wang told Xinhua.

Zhang Baoming saw the underlying risks. He said that the wholesale price of hair strips surged from 10 yuan ($1.45) per kilograms in 1993 to over 400 yuan a decade later. But last year, exports of his company fell 12 percent year-on-year.

The double-edged sword of globalization has made China the world's factory, but also brought issues of poor quality, product homogeneity and increased competition.

Lower levels of the supply chain are moving out of China as its demographic dividend is nearly over, while a decline in incomes and job opportunities has led to rising of populism and advocacy of de-globalization across the world.

Such issues plague economists and are expected to hit headlines at the 47th World Economic Forum in Davos, with Chinese President Xi Jinping in attendance.

"Lack of core competence, poor risk control and failure to cater to changing customer needs amid a softening economy have led to the plights of many enterprises," said Zhu Wei, president of Sanpower's Subsidiary Funtalk Telecommunications, at a roundtable to celebrate the 15th anniversary of China's accession to the WTO, earlier last December.

Need for change

But challenges can be turned into opportunities.

Puyuan, only 12.5 kilometers away from Wuzhen, is the biggest knitwear center in China. Low-cost products prospered in the town and its neighboring regions in the 1990s, but freight growth soon fell from 7 percent to only 1 percent as the global economy cooled.

Puyuan recently regained its reputation, fueled by inspirations from world-class designers.

Italian designer Gian Pietro Muraro, 70, worked with Versace, Yohji Yamamoto and many other major fashion names before discovering Puyuan three years ago.

"I was surprised at Puyuan's strong manufacturing capability. They can produce the new designs in a very short period," Muraro told Xinhua.

Muraro set up a studio committed to original designs in Puyuan, hoping to put local knitwear on the global fashion podium.

Iconic Italian knitwear brand Missoni has decided to put the production line of all its Asian orders here. The future looks bright for Puyuan.

"China's capability in high-end garment manufacturing is second only to Italy," said French designer Stanislssia Kein. "The design here is simple and very popular in Europe."

Though globalization is facing increasing challenges in the future, it will continue to create opportunites for China and countries throughout the world, said Zhao Ping, researcher with China Council for the Promotion of International Trade Academy.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 免费高清在线爱做视频 | 日本乱人伦片中文字幕三区 | 国产女王s调视频vk 国产女王vk | 欧美日韩国产亚洲一区二区三区 | 欧美成人激情在线 | 孕妇一级片 | 欧美日本色 | 美美女高清毛片视频免费观看 | 黄色毛片视频网站 | 成人在线观看一区 | 五月天婷婷伊人 | 国厂自拍| 国产91精选在线观看网站 | 亚洲视频偷拍自拍 | 97dyy影院理论片 | 国内精品久久久久影院老司 | 在线免费黄网 | 国产三级午夜理伦三级 | 成人亚洲精品7777 | 国内精品久久国产大陆 | 日韩中文字 | 亚洲欧美日韩在线精品一区二区 | 免费在线观看黄色毛片 | 国产精品久久久久毛片真精品 | 亚洲免费人成在线视频观看 | 黄色一及毛片 | 黄色美女网站在线观看 | 精品中文字幕久久久久久 | 草草影院在线观看 | 午夜私人影院免费体验区 | 精品国产免费第一区二区 | 国产亚洲精品国产第一 | 日韩在线 中文字幕 | 一本色道久久爱 | 日本午夜视频 | 亚洲国产精品久久网午夜 | 黄色毛片视频网站 | 国产成人久久综合二区 | 国产成人精品一区二区不卡 | 国产图片亚洲精品一区 | 日韩欧美国产视频 |