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China's economic impact. (Insider Report).

The New American

| November 18, 2002 | COPYRIGHT 2002 American Opinion Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Beginning in the early 1980s, the vision of a vast consumer market lured transnational corporations to China. However, instead of becoming a huge market for consumer goods, China is "becoming the world's factory floor," notes the October 17th Far Eastern Economic Review. "China's manufacturing prowess is pushing down prices on a growing range of industrial, consumer and even agricultural products that it sells around the world."

Because it has "an almost endless supply of low-priced labor that not only allows companies to control costs, but often to cut them dramatically," China is "becoming an increasingly powerful global deflationary force." This produces an abundance of ...

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Source: HighBeam Research, China's economic impact. (Insider Report).

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