Vietnam Low Cost Products

Since Vietnam became a WTO member in 2007 trade opportunities have increased considerably. Foreign investment and both imports and exports have increased considerably.

Because the government still owns most property, investment opportunities in utilities remain limited, but foreign capital has invested in the banking sector and various industries due to the low-cost and highly-skilled labor force. Rules for the establishment of foreign firms in the country now conform to international standards.

The US imports mainly textiles (apparel, accessories and footwear), furniture, mineral fuels, food products (fish, coffee, seafood products) and machinery (electrical equipment, mechanical appliances). The US exports mostly machines, electrical equipment and raw materials (plastic, cotton, wood, leather, etc.) for value-add production. Poverty has decreased over last two decades, allowing for the sale of consumer goods to the country. Viet Nam is a market of more than 86 million inhabitants.

There are several excellent websites that offer resources for business with Vietnam. The Vietnam Customs Office website offers full information about both import and export regulations as well as the latest news related to imports and exports. The Foreign Investment Agency of the Ministry of Planning and Investment offers information and legal advice about foreign direct investment in Vietnam. And the Vietnam Economic Portal, run by the Central Institute for Economic Management (CIEM), offers news and research about Vietnam's economic development.

US-based resources include US Vietnam Trade Council, the Vietnam Trade office in the USA and the US-Vietnam Chamber of Commerce and the US-Asean Business Council are FITA member associations. Check out their websites for information about doing business in Vietnam.

China Exports Show Sharp Fall

China exports in April were down by 22.6% from a year ago. This is the sixth successive month of decline but analysts are still optimistic that China will be the first country to come out of the recession.

Chinese factory owners are seeing little relief as most of their products are exported and the world right now is not buying.. Analysts had hoped the worst was over but the 22.6% was greater than expected.

For exporters the outlook remains uncertain but they are hoping that world economic conditions will improve in the second half of the year.

For those who are importers this is a good time to buy from China.. You are able to bargain for better prices as there is more supply now than six months ago. Also shipping costs are down inspite of increases in oil prices.. So while the world is in recession those that can buy will find they have greater bargaining powers.

Chinese Drywall

Where is that rotten egg smell coming from … is it from Chinese Drywall...

The bad odor is only the first, most pungently obvious problem. The sulphur emissions from tainted drywall corrode a building’s metal piping, wiring and air-conditioning coils. Now a growing number of lawsuits claim that the toxic gases from the defective building material — also known as wallboard, gypsum board or plasterboard — also cause bloody noses, headaches and respiratory infections.

The toxic drywall was imported from China, with much (although by no means all) of it manufactured by Knauf Plasterboard Tianajin Co. Ltd. (Knauf Tianjin says that it is responsible for only about 20% of the stuff — and that it is being unfairly singled out because it is the only manufacturer that put its name on its product.)

Consumer advocacy group America’s Watchdog, which has set up a Chinese drywall complaint center, says that the drywall may have found its way into any U.S. home built or remodeled since 2001. But the imports (and the odds of getting the defective product) surged in 2006 when the home-building boom and post-Hurricane Katrina reconstruction exhausted domestic supplies. Congressional legislation calling for a federal investigation reports that the drywall is believed to have been distributed in at least 11 states.


Home-owner complaints first reached critical mass in southwest Florida. The drywall’s stench and corrosive effects seem to be exacerbated by the high heat and humidity of the Gulf States. Certainly, the first flood of lawsuits against the Chinese manufacturers, as well as U.S. builders and suppliers, is rising primarily in Florida, Mississippi, Alabama and Louisiana.

Remediation is likely to be costly: preliminary research indicates that as few as three sheets may render a home unfit for habitation. Studies are now underway to determine what impact the drywall’s emissions have on human health. As A.M. Best insurance raters points out, years of litigation lie ahead as insurance carriers try to re-interpret existing liability policies in light of new cases.

China Report

China Report by Tom Galey of 3chinas.com Part 1

What the Migrant Workers are up to now. My recent trip to China was in some ways, surprising. I envisioned hoards of migrant workers roaming the streets looking for work. Not so. I imagined factory after factory boarded up with people in the streets looking for something to do. Interestingly, this was not at all the case.

These guys are smart, not only the factory managers but also the workforce. Some sort of world record was set. A technological record of significant proportions was reached. Over 1.2 trillion text messages were sent in the last week of the Chinese New Year in China. That’s trillion with a “T” text messages. You see the workers powering the factories were back at home in the countryside for the holidays.

They were at home with their families. They would send a text message to the factory boss, the guy who’s doing all the hiring. This HR boss will advise if they need to come back. Some workers are advised to come back a bit later when the production pipeline is filled. This type of communication is in my mind, unbelievable. Yet, this is the way of the 21st century. These are farmers with little education, using advanced technology to check on work. They definitely do not want to waste time and money traveling all the way across the country by train, to find there is no work.

So they text! Another significant thing happens… the HR boss can pick and chose the best workers! Why not, he’s got access to an overflow of willing and able labor, he can decide to ask only the best of the best to return! Obviously the quality of manufacturing goes up.

We all know that a cost of hiring laborers is rising. The government has enacted better and tougher labor laws protecting workers in the factories. This is in direct response to the pressure that socially conscious organizations and US & European firms have put on the government to improve workers’ conditions.

So, we have a better workforce, working under better conditions! Seems like China is dealing with the current economic situation pretty well!Stay tuned for more reports on my recent trip to China.

Globalization Effects on China

How Globalization Effects China and the rest of the World?

We all know that the world has moved towards a globalized economy, and China plays a significant role in this shift. An interesting perspective might be to look at this new global economy from the perspective of the Chinese businessperson.

Recently China has been working towards establishing relationships on the African continent. Traditionally, African nations operated outside standard WTO rules. Years ago China traders would shy away from work with any nation in Africa. The risks were too high.

But now, China wants to court these high-risk African nations. Why? Partly the answer lies in China’s long-term strategy. China wants to put in place the processes for creating a manufacturing powerhouse, into every nation on earth. The Chinese government recognizes the value of a true global economy.

Many Asian economies are credited with very good long-term strategies. Japan’s success is based in particular on a long-term growth strategy. The four tigers also saw significant growth by using a long-term perspective.

We can all learn from this perspective. Are multinational corporations looking at generating a profit for the present quarter? Or are MNCs hoping to sustain a medium-term profitability attitude. It looks like the Chinese are leaning towards a more solid and sustainable growth economy.

It confirms the theory that Chinese and Asian business practices thrive on cultivating a solid relationship. The relationship style of business that’s done in China compliments long-term planning. It’s a good idea, get to know your counterpart and consider where you want to be in future decades, not years!

"How to Cultivate Solid Relationships with Chinese Manufacturers" Tom Galey from 3 Chinas.com explains how on his WATCH ON DEMAND 5 hour Video Demo Tutorial...


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Globalization Effects China and Rest of the World

What are the Globalization Effects on China and the Rest of the World?

We all know that the world has moved towards a globalized economy, and China plays a significant role in this shift. An interesting perspective might be to look at this new global economy from the perspective of the Chinese businessperson.

Recently China has been working towards establishing relationships on the African continent. Traditionally, African nations operated outside standard WTO rules. Years ago China traders would shy away from work with any nation in Africa.The risks were too high.

But now, China wants to court these high-risk African nations. Why? Partly the answer lies in China’s long-term strategy. China wants to put in place, the processes for creating a manufacturing powerhouse, into every nation on earth. The Chinese government recognizes the value of a true global economy.

Many Asian economies are credited with very good long-term strategies. Japan’s success is based in particular on a long-term growth strategy. The four tigers also saw significant growth by using a long-term perspective.

We can all learn from this perspective. Are multinational corporations looking at generating a profit for the present quarter? Or are MNCs hoping to sustain a medium-term profitability attitude. It looks like the Chinese are leaning towards a more solid and sustainable growth economy.

It confirms the theory that Chinese and Asian business practices thrive on cultivating a solid relationship. The relationship style of business that’s done in China compliments long-term planning. It’s a good idea, get to know your counterpart and consider where you want to be in future decades, not years!

"How to Cultivate Solid Relationships with Chinese Manufacturers"

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WATCH an ON-DEMAND Video demo of a 5-hour tutorial Here: http://www.3chinas.com/importtutorials.htm