In 2023, aggregate local government debt in China had risen to $12.58 trillion (92 trillion yuan) and the central government of People's Republic of China ordered its banks to roll over debts in a debt-restructuring. Moody’s continued Chain’s A1 credit rating, but predicted that China’s GDP was expected to have less GDP growth in 2024. China’s GDP growth had been 6% and is expected to grow at 4% in 2024.
Sony and Samsung have moved their camera production and workforce, respectively, to Thailand. Apple's supplier GoerTek has spent $280 million on facilities in Vietnam to make AirPods. Similarly, Dell Technologies plans to stop using Chinese-produced chips by 2024.
Nike, Adidas and Samsung have all increased operations in Vietnam, and companies that produce solar panels are moving their production to Thailand. Malaysia, Bangladesh, Cambodia and the Philippines are also proving popular among apparel companies like Gap, Inc. Aug 31, 2023
The Per Capita GDP in Vietnam is $4720 per year with a population of 99.5 million and a GDP of $426B. The Per Capita GDP in Indonesia is $5509 with a population of 279 million and a GDP of $1.54T. The Per Capita GDP in Philippines is $4168 with a population of 119 million and a GDP of $436B. The Per Capita GDP in Thailand is $7560 with a population of 71.9 million and a GDP of $512B. The Per Capita GDP in Bangladesh is $1874 with a population of 174.7 million and a GDP of $431B. The Per Capita GDP of Cambodia is $2000 with a population of 17.1 million and a GDP of $29.6B. The Per Capita GDP of Malaysia is $13,434 with a population of 34 million and a GDP of $431B
Fortune Magazine’s article “The China Dilemma” reports that the cooling of US enthusiasm for China began in 2017 and intensified in March 2023 when Chinese shut down the Beijing office of US Consulting Firm Mintz for carrying out unapproved statistical investigations . The Chinese then raided Bain & Co, another US Consulting Company and took computers and phones. One executive from Mintz and another from Kroll Risk Advisors have been banned from leaving China. This news spread to other US firms in China and they may join the US companies who are continuing to leave China, because they are no longer profitable. Those US manufacturing companies who can leave China are looking at Vietnam and Indonesia for cheap labor. Some US manufacturing companies are stuck in China because they haven’t found companies who can deliver at Chinese prices.
This may explain why President Chi visited San Francisco to see Apple and others who have operations in China. Despite recent efforts to diversify, over 95% of iPhones, AirPods, Macs, and iPads are still made in China. Foreign Investment in China peaked at $348B in 2021, declined to $180B in 2022 and tanked to $15B in 2023. US imports from China dropped by 20% in 2017 as US companies moved their manufacturing from China to other Asian countries and Mexico.
Tesla has acquired land in Shanghai for a megapack battery manufacturing plant with production expected to start in the fourth quarter of 2024. That suggests slower-paced progress on the project than it had planned initially.
Chinese has 219 US companies with manufacturing plants and business operations in China.
AT&T
Abercrombe
& Fitch
Abbott
Laboratories
Acer
Electronics
Ademco
Security
Adidas
ADI
Security
AGI-
American Gem Institute
AIG
Financial
Agrilink
Foods, Inc. (ProFac)
Allergan
Laboratories
American
Eagle Outfitters
American
Standard
American
Tourister
Ames
Tools
Amphenol
Corporation
Amway
Corporation
Analog
Devices, Inc.
Apple
Computer
Armani
Armour
Meats
Ashland
Chemical
Ashley
Furniture
Associated
Grocers
Audi
Motors
AudioVox
AutoZone,
Inc.
Avon
Eastman
Kodak
EchoStar
Eclipse
CCTV
Edge
Electronics Group
Electric
Vehicles USA, Inc.
Eli
Lilly Company
Emerson
Electric
Enfamil
Estee
Lauder
Eveready
Family
Dollar Stores
FedEx
Fisher
Scientific
Ford
Motors
Fossil
Frito
Lay
Furniture
Brands International
ICON
Office Solutions
IBM
Ikea
Intel
Corporation
J.C.
Penny's
J.M.
Smucker Company
John
Deere
Johnson
Control
Johnson
& Johnson
Johnstone
Supply
JVC
Electronics
Mars
Candy
Martha
Stewart Products
Mattel
McCormick
Foods
McDonald's
McKesson
Corporation
Megellan
GPS
Memorex
Merck
& Company
Michael's
Stores
Mitsubishi
Electronics
Mitsubishi
Motors
Mobile
Oil
Molex
Motorola
Motts
Applesauce
Multifoods
Corporation
Nabisco
Foods
National
Semiconductor
Nescafe
Nestles
Foods
Nextar
Nike
Nikon
Nivea
Cosmetics
Nokia
Electronics
Northrop
Grumman Corporation
NuSkin
International
Nutrilite
(see Amway)
Nvidia
Corporation (G-Force)
3-M
Tai
Pan Trading Company
Tamron
Optics
100
Target
TDK
Tektronix,
Inc
Texas
Instruments
Timex
Timken
Bearing
TNT
Tommy
Hilfiger
Toro
Toshiba
Tower
Automotive
Toyota
Toy's
R Us, Inc.
Trader
Joe's
Tripp-lite
True
Value Hardware
Tupper
Ware
Tyson
Foods
Banana
Republic
Bausch
& Lomb, Inc.
Baxter
International
Bed,
Bath & Beyond
Belkin
Electronics
Best
Buy
Best
Foods
Big
5 Sporting Goods
Black
& Decker
Body
Shop
Borden
Foods
Briggs
& Stratton
Calrad
Electric
Campbell
's Soup
Canon
Electronics
Carole
Cable
Casio
Instrument
Caterpillar,
Inc.
CBC
America
CCTV
Outlet
Checker
Auto
CitiCorp
Cisco
Systems
Chiquita
Brands International
Claire's
Boutique
Cobra
Electronics
Coby
Electronics
GAP
Stores
Gateway
Computer
GE,
General Electric
General
Foods International
General
Mills
General
Motors
Gentek
Gerber
Foods
Gillette
Company
Goodrich
Company
Goodyear
Tire
Google
Gucci
Guess?
KB
Home
Keebler
Foods
Kenwood
Audio
KFC,
Kentucky Fried Chicken
Kimberly
Clark
Knorr
Foods
K-Mart
Kohler
Kohl's
Corporation
Kraft
Foods
Kragen
Auto
Office
Depot
Olin
Corporation
Old
Navy
Olympus
Electronics
Orion-Knight
Electronics
Pacific
Sunwear, Inc.
Pamper's
Panasonic
Pan
Pacific Electronics
Panvise
Papa
Johns
Payless
Shoesource
Pelco
Pentax
Optics
Pep
Boy's
Pepsico
International
PetsMart
Petco
Pfizer,
Inc.
Philips
Electronics
Phillip
Morris Companies
Pier
1 Imports
Pierre
Cardin
Pillsbury
Company
Pioneer
Electronics
Pitney
Bowes, Inc.
Pizza
Hut
Plantronics
PlaySchool
Toys
Polaris
Industries
100
Polaroid
Polo
(see Ralph Loren)
Post
Cereals
Price-Pfister
Pringles
Praxair
Proctor
& Gamble
PSS
World Medical
Pyle
Audio
Uniden
Electronics
UPS
Valspar
Corporation
Victoria
's Secret
Vizio
Electronics
Volkswagen
VTech
Walgreen
Company
Walt
Disney Company
Walmart
WD-40
Corporation
Weller
Electric Company
Western
Digital
Westinghouse
Electric
Weyerhaeuser
Company
Whirlpool
Corporation
Wilson
Sporting Goods
Wrigley
WW
Grainger, Inc.
Wyeth
Laboratories
Coca
Cola Foods
Colgate-Palmolive
Colorado
Spectrum
ConAgra
Foods
Cooper
Tire
Corning,
Inc.
Coleman
Sporting Goods
Compaq
Crabtree
& Evelyn
Cracker
Barrel Stores
Craftsman
Tools (see Sears)
Cummins,
Inc.
Dannon
Foods
Dell
Computer
Del
Monte Foods
Dewalt
Tools
DHL
Dial
Corporation
Diebold,
Inc.
Dillard's,
Inc.
Dodge-Phelps
Dole
Foods
Dollar
Tree Stores, Inc.
Dow-Corning
Haagen-Dazs
Harley
Davidson
Hasbro
Company
Heinz
Foods
Hershey
Foods
Hitachi
Hoffman-LaRoche
Holt's
Automotive Products
Hormel
Foods
Home
Depot
Honda
Motor
Hoover
Vacuum
HP
Computer
Honda
Honeywell
Hubbell
Inc.
Huggies
Hunts-Wesson
Foods
Land's
End
Lee
Kum Kee Foods
Lexmark
LG
Electronics
Lipton
Foods
L.L.
Bean, Inc.
Logitech
Libby's
Foods
Linen
& Things
Lipo
Chemicals, Inc.
Lowe's
Hardware
Lucent
Technologies
Lufkin
Qualcomm
Quest
One
Radio
Shack
Ralph
Loren
RCA
Reebok
International
Reynolds
Aluminum
Revlon
Rohm
& Hass Company
Samsonite
Samsung
Sanyo
Shell
Oil
Schwinn
Bike
Sears-Craftsman
Seven-Eleven
(7-11)
Sharp
Electronics
Sherwin-Williams
Shure
Electronics
Sony
Speco
Technologies/Pro Video
Shopko
Stores
Skechers
Footwear
SmartHome
Smucker's
(see J.M. Smucker's)
Solar
Power, Inc.
Spencer
Gifts
Stanley
Tools
100
Staple's
Starbucks
Corporation
Steelcase,
Inc.
STP
Oil
Sunkist
Growers
SunMaid
Raisins
Sunglass
Hut
Sunkist
Subway
Sandwiches
Switchcraft
Electronics
SYSCO
Foods
Sylvania
Electric
X-10
Xelite
Xerox
Yahoo
Yamaha
Yoplait
Foods
Yum
Brands
Zale Corporation
219 US companies have manufacturing and business operations in China
NOTATION - even though this is a very long list of American and other foreign corporations in China, it is certainly not a complete listing. We have only included a few of the names you may recognize. This is a list of companies who either own factories, or have contract factories producing their products in China. Some of the companies produce 100% of their products there, and others only produce parts, or certain ingredients for their products. The list below is approximately 1% of the actual Corporate list. Companies such as Avon, GE, and AT&T for example, have been in China and manufacturing products for 20 to 30 years. Most American consumers simply had no idea. Previously their source was Japan - Source
https://www.esdaw.eu/american--international-corporations---china.html
China’s Per Capita GDP is
$13.016 per year. In 2000 it was $954.40.
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=CN
The
U.S. poverty rate saw its largest one-year increase in history. 12.4% of
Americans now live in poverty according to new 2022 data from the U.S. census, an increase from 7.4% in 2021. Child
poverty also more than doubled last year to 12.4% from 5.2% the year before.
The
U.S. poverty level is now $13,590 for individuals and $23,030 for a family of
three. The new data shows that 37.9 million people lived in poverty in 2022.
Ford
sales in China peaked in 2016 with 828537 cars sold and a 3.77% market share. Sales
in 2022 were 219248 cars and a 1.06% market share.
GM sales in China in held on in 2023 with 2.1 million cars sold.
Norb Leahy, Dunwoody GA Tea
Party Leader
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