In the News
Monday Minute 8/31
August 31, 2015
News stories from around the web and around the globe.
Cooling Chinese economy creates complexity for West Michigan manufacturers
Written by John Wiegand - MiBiz
Although fears over China’s stalling economy sent global stock markets reeling in late August, experts say the impact to West Michigan’s manufacturers will be complex — and not necessarily all negative. - Read more at: https://mibiz.com/item/22832-cooling-chinese-economy-creates-complexity-for-west-michigan-manufacturers#sthash.XQo7Uh1D.dpuf
Amway’s 'Made In America' Strategy Scores With Asian Customers
By LORETTA CHAO, The Wall Street Journal
Amway Corp. is betting that a “Made in the U.S.A.” label will hold its appeal with consumers in Asia.
The direct seller is spending $200 million on four new factories and a new research lab in the U.S., including a new plant in its home state that will make soft-gel casings for dietary supplements and other pill products.
The investment comes even as the company sees some of its fastest growth in emerging markets far from its headquarters in Ada, Mich. Manufacturing in the U.S. for buyers in Asia adds costs to Amway’s supply chain and up to three weeks to the time it takes to bring a product to market. That can make it difficult to respond to fast-changing consumer tastes.
Read more: https://www.wsj.com/articles/amways-made-in-america-strategy-scores-with-asian-customers-1439912608
A World of Opportunity Awaits Small Businesses Interested in Exporting
By ZEYNEP ILGAZ, Entrepreneur
Communication and transportation across the world are getting so much easier that it’s predicted that as much as 80 percent of the world’s gross domestic product will be sold across international markets by 2027.
This isn’t hard to believe with so many multinational products in common use. By the time a cellphone reaches a consumer’s hands, it’s been a world traveller. It might have been assembled in Mexico with Chinese components and manufactured in Malaysia with parts designed in the U.S. According to a United Nation’s World Investment Report, there are about 40,000 multinational corporations in the world.
But international business isn’t just for big corporations. Research from UPS shows that small firms that are involved in global trade are 20 percent more productive than domestic firms and produce 20 percent more jobs. Read more: https://www.entrepreneur.com/article/247677