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U.S.- China trade shows ongoing improvement
2017-05-16 [ Business News ]
Trade between the world's two largest economies has shown signs of improvement as the U.S. trade deficit with China, a long-term U.S. concern, narrowed significantly in October.In October, U.S. exports to China reached a three-year high of 13 billion U.S. dollars, contributing to the month's 4.2 percent decrease in the trade deficit with China, according to the U.S. Commerce Department.The U.S. overall trade gap for the month grew 17.8 percent, the biggest increase since March 2015, to 42.6 billion dollars from the surprisingly low September deficit, data from the department showed.Chi......
How to make Pre-Production in China
2017-05-16 [ Business News ]
Developing pre-production samples is the only way to truly test the viability of a new design, and the manufacturers capability to produce it. It’s also a minefield, that can cost you months, sometimes up to a year, in lost time if not managed properly. The first step of the pre-production sample development is to draft Sample Order Terms. A well drafted document can save you thousands of dollars in development costs, and prevent severe delays caused by never ending sample revisions.Keep reading, and learn how to draft a Sample Order Terms Documents, including product specifications, comp......
2017-05-26 [ Business News ]
Before you can make a supplier selection you need data. Such data include pricing, tooling costs, MOQ requirements, supplier information, certificates and payment terms.In this article, we explain how you can develop a system for acquiring this information.The purpose, and preferred outcome, of this process is to gather enough data so that you can make profitability calculations, and select a manufacturer that is actually qualified to make your product – in compliance with both your quality requirements, and with the safety standards and regulations in your market.1. Creating an RFQ (Request f......
How to do business with Chinese people
2017-06-07 [ Business News ]
Transfer from China highlights If there are two words worth knowing in approaching Chinese culture — worth knowing and worth understanding — those two words are guanxi (关系 /gwann-sshee/ 'connections') and mianzi (面子 /myen-dzrr/ literally 'face'). Knowing the right people and knowing how to honor those you meet are crucial when doing business in China.Let's Eat!Typically in the west, though people may have business lunches, most formal business discussions are conducted in a more formal setting. China, in this, can be deceptive.The pats on the b......
6 Shipping Industry Questions in 2017
2017-06-14 [ Business News ]
1.M&A – Done Deals or Regulatory Risks?The extended period of low shipping rates seen in 2016 was just one driver of several major mergers and acquisitions announced in the second half of the year, as discussed in Panjiva research of December 30. The key issue for these deals in 2017 will be regulatory approval.The U.S. Department of Justice already made it clear it was concerned about the impact of Alliances on shipping services, which – at least in the case of THE Alliance – the Federal Maritime Commissionignored.Clearance is not simply a matter of U.S. market sh......