Word: exportability
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...display a car at the North American International Auto Show. Unveiling the compact sedan, whose name translates as Free Cruiser, is a bit of a stunt since Geely may be a couple of years away from shipping products to the U.S. Yet the company has big plans, aiming to export 1.3 million vehicles worldwide, including small sedans for less than $10,000 and a sports car, the Beauty Leopard, which sells for $15,125 in China. Other Chinese manufacturers, with varying levels of sophistication, are developing export models too, notably Chery, which is being promoted by Malcolm Bricklin...
With production workers earning $2 an hour, China is pressing its labor advantage, luring foreign automakers to both supply its domestic market and develop export programs. Almost all the big names?GM, Ford, Honda, Volkswagen?have joint ventures that assemble vehicles for the local market, with sales booming at a 22% average annual clip. Strong sales in China have cooled the impetus to export. So has the majors' ample capacity at plants overseas. And low wages don't make China a low-cost producer. The country has an inefficient supply chain, high component costs (many parts are slapped with import...
...while China may not be the cheapest place to build cars, it's growing more attractive. Tariffs on parts have declined lately, and logistics costs should decrease as China's transport infrastructure improves. Last year Honda became the first foreign automaker to set up a major export operation, shipping a compact to Europe from a plant in Guangdong's special, duty-free zone. Chrysler plans to build its 300-model sedan in Beijing for domestic sale and possible export (although not to North America, where autoworkers would probably object). GM and Volkswagen export small quantities too, such as Chevy Venture...
...Putin just as he takes over chairmanship of the G-8 association of industrialized nations, and it will probably accelerate Western efforts to reduce dependence on Russian gas and oil. U.S. Secretary of State Condoleezza Rice publicly accused Russia of behaving irresponsibly. And in the European Union, the biggest export market for Russian gas, officials said that reducing dependence on Russia and ensuring security of energy supplies are now top priorities. Measures under consideration include plans to diversify gas supplies, stock up on liquefied natural gas from Egypt, Nigeria and elsewhere, and develop alternative energy. "Europe needs a clear...
...Norway's Stabilization Fund makes 70% of the GDP. China imports oil, but its hard currency reserves have grown by 22%. Russia's GDP is worth $200 billion. Some $100 to 110 of it comes from the oil windfall profit. According to Russia's Central Bank, the export of capital this year has reached some $40 billion...