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Transcript of Flattener #6
Running with Gazelles, Eating with Lions OFFSHORING
Mostly every company likes to build offshore factories to obtain cheaper labor products to sell in America or Europe. According to the U.S Commerce Department , nearly 90% of the output from U.S owned offshore factories is sold to foreighn consumers. What is WTO ?
"is the only global international organization dealing with the rules of trade between nations."
China formally joins the World Trade Organization in
After china joins the WTO many companies offshore many parts of there companies to the shores of china.
TheWorld Trade Organization
(WTO) CHINA NOW
*China is getting flattened but it will never be truly flat until it gets over the political reform.
*Although you will mostly see Chinese products, America remains the worlds biggest manufacturer producing 75% of what it consumes. Article #1
China’s opportunity in offshore services
China faces major challenges to becoming a global giant in the offshoring and outsourcing of services.
MAY 2008 • Enrico Benni and Alex Peng
In This Article
Exhibit: China faces major challenges in becoming a global giant in offshoring and outsourcing services
China currently accounts for less than 10 percent of the global market for the offshoring and outsourcing of services. Yet McKinsey research—including interviews with officials at many Chinese government agencies, executives at Chinese leading services providers, and managers at Chinese services-outsourcing parks—suggests that by implementing an aggressive strategy to develop the sector and cultivate talent, the country could capture opportunities worth $56 billion a year by 2015.
China faces formidable challenges but can also draw on unique strengths. The country’s two million Japanese and Korean speakers, for example, should help it increase its lead in the North Asian market for the “near-shoring” of IT application and business-process-outsourcing (BPO) services. But a dearth of workers who can manage international projects and have strong English-language skills will make it harder for the country to become a leading provider of services to companies in Europe or the United States.
In the fairly new market for the offshoring of engineering services, China could become an R&D hub, given the country’s proximity to potential customers in the Asian semiconductor and consumer electronics industries. However, its relatively poor protection of intellectual property rights poses a significant barrier.
China officially joins WTO
November 10, 2001
Trade ministers from across the world have officially approved China's entry into the World Trade Organization (WTO) after 15 years of negotiations.
The move was approved unanimously at the WTO's ministerial meeting in the Gulf state of Qatar on Saturday and brings a market of 1.3 billion people into the global trading system.
China's entry is expected to boost economic reforms started in the world's most populous nation more than 20 years To applause, trade ministers from almost all the WTO's 142 members unanimously voted in favour of China's application.
China will become a full member 30 days after its parliament ratifies the agreement and informs the WTO. That may happen as soon as Sunday.
The approval of once-isolated communist China was planned to give the WTO maximum publicity and to ensure that some positive news would come out of the meeting, which has the main aim of launching a new round of trade liberalisation negotiations.
On Sunday members are expected to admit China's neighbour, Taiwan.
"Both are already major influences in world trade. Their participation in the WTO will be a boost for us and them," U.S. Trade Representative Robert Zoellick told the plenary session before the vote.
French Finance Minister Laurent Fabius said the WTO could not genuinely be called a "world" organisation without the world's most populous nation.
The more that china makes its self the base of offshoring the more developing countries like Thailand, Brazil and Mexico are willing to compete for those jobs. Many countries are willing to give companies the “best tax breaks “to make sure that offshoring goes to there shores.
China has become a powerful importer of goods that “in 2003, China replaced the United States as the biggest importer of Japanese products.