The Secret behind Chinese goods at cheap rates

  The Secret behind Chinese Goods at Cheap rates

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How many times have you read Made in China? Have you ever thought about how many types of cheap goods are imported from that country to our country? Chinese products are welcomed not only in our country but also in almost all countries. 

That is why the country is called the factory of the world. No one doubts how the country can provide its products so cheaply. 

There are many workers in China work for low wages. Another reason is the country's economy. With production trends such as low taxes, import tariffs, and the devaluation of the yuan by as much as 30 percent, they control the markets by using large amounts of human resources to sell goods at a lower rate than the rest.

After deciding which industry to set up in which area, the supplier network, distributors, and the producer job group all work together.  

 The government is doing everything it can for them. There are no environmental issues, industrial clearances, or wage issues. No unnecessary expenditure is incurred. It is very inexpensive. The price of any commodity is less as compared to other markets. 

Another interesting aspect is that they artificially reduce the value of their currency. Most of the workers are from the middle and lower middle class. 

There is no concern for child labor. The minimum wage is paid in two ways: per hour or month. There are 31 provinces in China. The hourly minimum wage in Shanghai is higher than in most other regions.     

China is the world's second-biggest economy. It manages 20,985 projects in 165 countries and provides loans and grants to them, impacting their financial systems.

 It invests in Asia, Africa and Europe. It has invested $1.34 trillion and has business partnerships with the US, Hong Kong, Japan, Korea, and Vietnam.

China is also investing heavily in India. China is the world's largest producer of consumer electronics, electricals, textiles, automobiles, chemicals, computers, plastics and medical equipment. This country is making its mark in the world.

--- Murthy KVVS (Mob: 78935 41003) 

(Published in Orissa today news daily,  3-9-2024)