The Chinese dragon is eating up markets all over the world. But what’s with the accelerating apprehension of the Asian giant?
With US playing a major role towards de-infatuating the world with China, it should not be long before Chinese products loose their vigor in the markets. A US family tried boycotting Made in China (MIC) products for a year and virtually found it impossible considering the flooding of markets with Chinese goods. However, the crusade started by individuals against Chinese goods bears a silver lining.
Reasons for such a boycott are clear from the following example. Recently, Mattel Inc.’s Fisher Price recalled 1.5 million Chinese toys from markets all over the world as their paint consisted of high quantity of lead. Fake and cheap quality medicines produced in China have taken more than 1,92,000 lives. Availability of pet food mixed with Industrial chemicals and melamine, defective tyres, toothpaste contaminated with toxic chemicals and antibiotics-infested Chinese fish (a cancer causing agent) laced with carbon monoxide (to make the fish look fresh); have pretty much tarnished the reputation of Chinese products and apparently US and India are the major victims. Although China is famous (or rather infamous) for its tainted products, surprisingly a fifth of the food and consumer products in Chinese markets were also found to be defective. The irony is that even famous Chinese
celebrities have joined the MIC
Boycott Campaign to de-spirit China’s overwhelming ordeal.
It will not be an over-statement to say that the Chinese economy might have reached its saturation point and even if it has not, then it does not
appear that the other major economies of the world, particularly the US, will let China operate for a long time now. The American trade deficit with China alone stands at a staggering USD 260 billion as per American Manufacturing Trade Association and they seem to have lost 3 million manufacturing
jobs since 2000!