“Now that China, the most enormous market in the world, has opened up to business outsiders, entrepreneurs have new opportunities to grow almost without limits. But you should know, a clock is ticking.
Sometime in the next two decades, cheap labor – one of the prime attractions of doing business with China – will be a thing of the past.
That’s the word from Stacy Sun, founder and CEO of the Asia Pacific USA Chamber of Commerce. A native of China, Sun has established reciprocal trade relations with five Chinese cities and established entrenched relationships with the highest level of Chinese government.
She’s also CEO of China Global Ventures, a business consulting firm. Often acknowledged as one of the most effective consultants within the U.S.-Chinese business community, Sun recently sat down with StartupNation to talk about entrepreneurial opportunities in the land of her birth.
First, just what are the opportunities in China?
Let me give a little background on China – the world’s largest market – and its growth.
China is the cheap manufacturing hub of the world. It makes:
- 70 percent of the world’s toys
- Half of all computers and cameras
- 35 percent of mobile phones
- 30 percent of televisions
- 25 percent of washing machines
That’s just to name a few. In 2005, China bypassed Korea and Turkey and became the largest importer of waste and scrap metal. It consumes more than one-third of global coal, cotton, iron and cigarettes.
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