The New York Times reports from the Canton Trade Fair in Guangzhou:
Chinese producers of everything from socket wrenches to sport utility vehicles say, their fastest growth these days lies in Europe, Africa, the Middle East, South America and elsewhere in Asia ” in other words, practically anywhere other than the United States.
So it is throughout China. With ample support from the Beijing government ” including a flurry of trade missions to Africa and assistance with trade fairs in Germany, Australia or someplace in between ” Chinese companies are poised to expand into the markets of many of the world’s rapidly growing economies. In some cases, they are running directly into American competitors. [Full text]