M.Phil Year 2 Translation 08TT Week 3
"Made in China" labels don't tell whole story
1. But often these days, "Made in China" is actually "Made by Someone Else" - by multinational companies from Japan, South Korea, Taiwan and the United States that are using China as the final assembly station in their vast global production networks.
2. It may look as though China is getting the big payoff, but over all, the biggest winners are consumers in the United States and other rich countries, who have benefited enormously from China's production of cheaper toys, clothing, electronics and other goods.
3. In fact, about 60 percent of China's exports are controlled by foreign-financed companies, according to the latest Chinese customs data.
4. Now, Taiwanese companies produce 80 percent of the world's motherboards, 72 percent of all notebook computers and 68 percent of liquid crystal display monitors. And most of the assembly takes place in China.
5. What China got in the past few years is only some pretty figures. American and foreign companies have gotten the real profit.