U.S. Creates Thousands of Jobs...in China
United States companies are looking for ways to make more money, and China's looking for something to do with their growing amounts of disposable income. The solution seems simple...
Companies here in the U.S. are responding to the new opportunites created by China's growth by expanding...This means U.S. companies will create a surplus of new jobs for the Chinese, on top of the thousands they have already implemented.
China just can't stop. As a booming economy, rumored to be the next superpower, China's middle class is growing faster than ever. This means disposable income is growing as well. It's an ideal time for U.S. companies to take advantage of the situation, and get their products popular overseas.
Five Major Companies Active in This Operation:
Looks like America's aren't the only ones with a sweet tooth. Thirteen years ago, in 1998, the average consumer in China drank about eight Coke products annually. Now that number is over 30. My, how things change...
Over the course of the past three years, Coca-Cola has already put $3 billion with intentions to invest another $4 buillion by 2014. And already, Coke has employed 48,000 people in China. This year, they plan to open three new factories, creating another 940 jobs in China.
In about five years, China will welcome its first Disney resort, Shanghai Disneyland. With more disposable income, the Chinese are more willing to spend money on entertainment and leisure, allowing the tourism industry to really flourish.
This past April, Disney shelled out $4.4 billion for the construction of Shaghai Disneyland. The construction process alone is predicted to create thousands of jobs alone, before workers are even needed to maintain the resort itself.
3.) Procter & Gamble
Protect and Gamble goods include a plethora of basic household cleaning products and toiletries (Tide detergent and Crest toothpaste, to name a couple bestsellers). In China, P&G is the #1 products company, contributing to over $5 billion of the company's yearly sales.
Currently, this company provides jobs for 8,000 people in China.
This heavy machinery company recently announced their goal to build a new factory in Xuzhou which will create approximately 400 new jobs in China. Already, Caterpillar employs 8,500 people over there.
Merck is an extremely successful pharmaceutical company. Unfortunately, they are cutting at least 13,000 jobs worldwide -- excluding China.
While nearly 5,000 Merck workers in the U.S. can expect to lose their jobs, China --where an additional 5,000 Merck workers are currently employed-- has nothing to worry about. According to their second-quarter data, sales in China were 30% greater than last year. CEO Kenneth Frazier calls China a "must-win market."
This news isn't really a shocker. Afterall, experts predicted China to grow three times faster than the United States in this year alone. Apple, Nike, Ford, and the Gap are among other leading companies that have been working on expansion efforts...over to China, of course.
Starbucks sides with Coke in their opinion that China will be their top growth market.
As the China vs. U.S. growth prediction gains more credibility as the year passes, more and more companies are investing more and more heavily in China. It seems to be a growth market that can't be stopped.
More like this...Global Energy Demand Rises as China Passes the U.S. as World's Largest Energy Consumer
China takes the crown for 2010 as the world's largest energy consumer but global demand is still high and rising...
Why China Needs to Buy More Gold
Must-see chart sums up why China needs to buy a lot more gold...
China Is Wrongfully the New Dot-Com for Investors
Gordon Chang, author of The Coming Collapse of China, explains why China is being talked about, and why it shouldn't be where you invest. At ALL.
Will China Replace the U.S. as World's Superpower?
According to several new reports, a majority of world nations believe that China will surpass the U.S. as the world superpower, but has it done so already.