I think folks continue to underestimate the Chinese market for American products.
On the same day that GM reported that it sold more cars in China than they did in the US, there's another report that a Chinese businessman is going to build and export to China $5 billion (with a "b") worth of recreational vehicles. Winston Chung bought a Riverside, California, RV manufacturing company last week to build 10,000 tour-bus style and 20,000 smaller recreational vehicles.
The company currently has 500 employees, and now expects to add 1,200.
[That 1,200 figure is interesting. That's about the same number of workers being laid off in California by Boeing due to decreased orders for one of its military cargo planes. There's some irony here, but I won't ramble.]
This is not a fly-by-night entrepreneur. That same Chinese businessman just donated $10 million to the University of California - Riverside campus. That is the largest gift in the school's history.
$ 5 billion ..enjoy your blog ,I start my day reading Bakken google groups and your blog.
ReplyDeleteThank you, my mistake. I will correct that.
ReplyDeleteI do that fairly often....getting old, I guess.
It was funny; as I wrote that, I thought, you know, those RV's must not be all that inexpensive if one get buy 30,000 of them for a few million.
Again, thank you.
bet my last dollar the model of the rv`s are fleetwoods since one of their main plants are located in that area
ReplyDeleteMostly likely. Regardless "Fleet" "Wood" probably translates better in Chinese than "Winnebago."
ReplyDeleteBut the story impressed me. I think Americans underestimate all the wealth in that country.
has anyone looked at a Chinese budget for the country.. i have often wondered how much of the budget is for social programs such as Welfare, and those types of outlays..
ReplyDeleteI can only imagine. Smile.
ReplyDeleteWith the one child rule, and excess males by huge margin, among many concerns China has is thousands (tens of thousands, hundreds of thousands?) of young unemployed me with no prospects for the future.
Something tells me social welfare is not high on the government's list of things to do except as it pertains to keeping "the peace."