Time to jump on the bandwagon to China

ANALYSIS: Trevor Sturgess
ANALYSIS: Trevor Sturgess

JUST about everything we buy these days is made in China.

Low labour costs are combining with higher quality to make desirable products that were once made in the UK, the USA, Japan and elsewhere.

Industries are being killed off by the Chinese phenomenon. China’s economy is racing ahead, so much so that it is likely to overtake the US within the next 40 years. The West is sucking in Chinese goods in increasing numbers.

Homegrown jobs are being lost as the Chinese juggernaut rolls over our manufacturing industry.

But where are the exports? Only a few hands went up at a recent HSBC seminar in Maidstone on doing business with China when delegates were asked if they were selling to China.

There is huge scope for selling products and services to the Chinese in this boom time. With huge construction projects on the go, any businesses in this sector have a marvellous opportunity.

This is a market you have to be in if you are in the right line of business. It is a market that the UK should be wooing with alacrity.

Yet the UK accounts for a derisory two per cent investment in China, with Europe as a whole contributing just eight per cent.

We are missing a trick if we fail to exploit the 21st century gold rush. No point in being an ostrich.

The danger is that Kent and British companies will miss the boat as close relationships develop between China and other nations.

But it is not easy doing business in China. Expert advice may be needed. Joining a trade mission may be one way of pushing a foot in the door.

Fear of China is understandable but the wrong way to tackle the perceived threat. We have many services the Chinese would value. We have knowledge that is badly needed and you can be sure that low-grade manufacturing jobs will be followed by rising expertise in hi-tech occupations.

We have to accept that there is no way the Chinese bandwagon will come off the road. So better to jump aboard rather than watch it roll on by.

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