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Every time we see the label "Made in China" we are reminded that China is a place where goods are produced for a fraction of the US cost and sold to over a billion potential buyers. Corporate giants such as Wal-Mart are investing massively in China. Thousands of small to medium sized companies are getting in on the action as well. In fact, it can be said that 2000 was the decade that got thousands of entrepreneurs to investigate how to import goods from China.

China has enjoyed an average 9.5% annual growth during the past 10 years, and its Gross Domestic Product (GDP) increased from $ 300B in 1985 to $ 1,600B in 2004, higher than the state of California. In the meantime, the foreign trade volume has increased twelve-fold! Foreign direct investment has reached $ 550B during the same interval. China's blistering modernization from 1990-2010 made importing goods from China extremely attractive to retailers around the world.

The country's first production census discovered that from 2004 to 2007, the GDP growth rate was of 10% per year. In 2007, the formally recorded GDP growth rate was 11.4 %. In 2008, the global economic crisis began to reduce China's growth rate. In the face of these forecasts, the government decided to pour Rmb (China currency) 4 trillion into the economy in the form of an economic stimulus package consisting mostly of investments in fixed infrastructure and human capital.

Although in early September 2009 mainland China was engaged in new trade dispute with the US over the imposition of an emergency duty on Chinese tires, a serious trade war has a very small possibility as this is not in the best interest of both countries. Mainland China is the biggest creditor of the US, and the US is the Mainland's second largest export market after the European Union. A trade war among two of the world's biggest economies will also be bad to the global recovery just underway. China import export is here to stay, for now.

Northern Asia in general (Japan, South Korea, Taiwan, Vietnam, and Mainland China) is a very good place for manufacturing products (Vietnam is like China fifteen years ago).

The obvious advantage of Mainland China today lies in the low production, labor and improved quality control procedures, making it by far the most attractive place of the region.

Moreover, note that Chinese suppliers will provide you with what you request, even if it differs from their production standards. They possess a great ability to create a very creative design by combining several existing ideas you might have submitted to them. While Westerners do not necessarily like (or are even able to) adjusting their production standards to special customer requirements, a Chinese company would consider this a standard feature of their service.

Sets of standards like ISO or 6-Sigma is not very popular in China, but is implemented by the higher end manufacturers. However, regardless of your order volume, quality control with China is a MUST. You need to receive what you order and in the exact way you ordered it. From unsophisticated to complex products you need to monitor quality control with Chinese producers. Implement multiple QC check points during different phases of production. An importer's worst nightmare is receiving a full container load of merchandise that is defective due to a wrong screw size, for example. If you still try to market them, or sell merchandise that you don't know was designed wrong and later falls apart, this brings massive merchandise returns, angry customers, and an accounting/billing department nightmare. As the Chairman of your own company, you are responsible for ensuring that your products satisfactorily satisfy desired specifications.

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