ASEAN China Businesses See The “Diamond Decade” Ahead

Posted by: : Paul EbelingPosted on: November 4, 2013 ASEAN China Businesses See The "Diamond Decade" Ahead

ASEAN China Businesses See The “Diamond Decade” Ahead

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The Canton Fair, finished Monday in the economic hub of south China’s Guangdong Province, has given foreign businesses, especially those from the Association of Southeast Asian Nations (ASEAN), a valuable chance to explore China market opportunities.

The Canton Fair is regarded as a barometer for China’s foreign trade.

After an international pavilion was set up at the fair 6 yrs ago, it become a trade ground for foreign businesses to sell their products in China.

China’s trade with emerging markets has seen fluctuations in recent years due to the sluggish world recovery.

But, its trade with ASEAN members has maintained a stable growth.

The total volume of China ASEAN trade in the 1st 3 Quarters of the year hit US$ 322.36-B, + 11.6% Y-Y, according to figures from the General Administration of Customs.

In contrast, China-US trade volume increased by 6.7%,  and those of China-EU and China-Japan declined by 0.8  and 7.9%, respectively, during the same fram.

Experts say the establishment of the China ASEAN Free Trade Area (CAFTA) in 2010 has played an essential role in countering the lingering economic crisis, and the streamlined procedures and reduced costs greatly encourage businesses in the CAFTA to enhance cooperation in both trade and investment.

.China and Malaysia recently inked a 5-yr program for economic and trade cooperation, announcing an aim to expand annual bilateral trade to US$ 160-B by Y 2017.

Investment growth is a new focus of China-ASEAN collaboration. Hoa Ha Company was a packing bag maker based in central China’s Henan Province, but it moved to Vietnam 10 yrs ago because of growing cost pressures.

After a decade’s operation, its factory in the country now employs 2,500 local workers.

“Compared with China, ASEAN members like Vietnam have their own advantages, such as lower labor costs,” Chen said. “We’ll make full use of such advantages.”

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.
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