Is China'S Clothing Exports Declining Or Rising?

According to US media reports, Trump's view once had its merits.

China has a large number of workers.

Far less than American workers, this is attractive for manufacturers who want to cut costs, raise margins and keep prices low.

According to a study published in the Journal of labor economics, from 1999 to 2011, the United States lost at least 2 million jobs due to a surge in imports from China.

Raising wages of Chinese workers

With the development of China's economy, there are many opportunities in many industries. The attraction of assembly line work is not as attractive as it used to be.

So, in order to attract workers, managers have offered higher wages.

At the same time, local governments in Shenzhen and other industrial cities have been steadily raising the mandatory minimum wage standard so as to enhance the welfare level of workers and families and to encourage enterprises to produce products that are higher and more expensive.

Shenzhen is a coastal trade hub adjacent to Hongkong.

Reported that the above factors have pushed up Chinese factory workers.

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According to the Japan trade promotion organization, their monthly average

It was US $424 (about 2831 yuan), which is more than 29% higher than three years ago.

Compared with many other emerging economies, China's current labor costs are much higher.

Workers in Vietnamese factories earn less than half of Chinese workers, and wages in Bangladesh and other countries are less than 1/4 of Chinese workers.

The rising cost of production has also greatly changed China's competitive position with the United States.

A study conducted by Boston Consulting Group (BCG) in 2015 showed that

Considering the level, productivity of workers, energy costs and other factors, the manufacturing costs of China's main export processing zones are almost the same as those of the United States.

More American companies are "returning to the nest"

The report said that because of the huge cost reduction, the benefits are gone, and more and more American businesses are "returning to the nest", that is, to move factories back to the United States.

According to another survey conducted by BCG in the US manufacturing industry last year, 24% of respondents said they were actively pferring production from China to the mainland, or planned to do so in the next two years.

In 2012, the proportion was only 10%.

This means that workers in American factories will get more job opportunities.

In the BCG survey, half of respondents said they expect to hire more manufacturing workers in the United States in the next five years.

It is not just the United States that takes jobs away from China.

Rising costs are pushing many industries in many industries to migrate production to other countries.

Stateside

On the shelf, you can often see products that are being moved from China to many factories.

In February this year, Hongkong based shoe manufacturer, Mike Cross, Yue Bu and other big foundry manufacturers, closed nine factories in China and pferred some of their production lines to factories in Vietnam and Indonesia.

The headquarters is also located in Hongkong, which is a garment manufacturer of American brands such as docs and Booker brothers. It plans to close a Chinese factory this year and pfer production to new factories in Vietnam and Ethiopia.

Other companies that have extensive businesses in China may not close their factories, but are seeking to invest elsewhere.

Although China exports to the United States

The scale remains the top, but it is also facing more and more competition from cheaper Asian rivals.

A report released by Feng Feng research group in March this year showed that the market share of clothing exported to the United States decreased last year, while the share of Vietnam and Bangladesh increased.

This is a research firm based in Hongkong.

And research in the field of procurement.

"China is not an attractive place for all low-cost jobs," said Gimoman, chairman of the Chinese American Chamber of Commerce in Beijing.

"China is moving towards the upstream of the value chain, which means that there will be adjustments."

Because China's economic growth is blocked, workers in the country are also facing loss of jobs.

Chinese factory workers who have already been affected may face a more severe situation in the future.