China’s Canton Fair is regarded as the largest trade platform around the globe, and it has shown the nation’s dynamic export ability in the face of economic crisis that was caused by the infectious disease that people in different places in the globe have contracted. The Canton Fair has also shown that China’s production sector, has been occupying an important position in the collective market of various nations. All these were made known a few days ago in a report by a magazine called The Economist. The report continued by saying that although, the Canton Fair was completely held online this year, the total impact was still strongly felt.
This was seen as about twenty-five thousand sellers were on livestreams from their workspaces at once to meet, and talk with buyers from various parts around the globe concerning their products. The Economist continued by saying that businesses of Chinese origin are dynamic, and possess an ever-ready abililty to adapt to change and evolve. It further stated that regardless of the Canton Fair being moved to an online platform, sellers still showed a good ability of adaption to the recent change.
While the Canton Fair was held, this magazine said that the Fair was held in China, which was the region that owned quite a larger portion of global production of about 28 percent. This is almost as much as the production capabilities of big nations such as Japan, the United States, and Germany, put together. The information outlet said that regardless of the global crisis caused by the infectious disease, China’s manufacturing industry is still going strong. It further stated that China seemed to have a couple of advantages as a production source, which it outlined.
The business magazine said that China had an unmatched industrial base in all areas, and the first advantage was its wide domestic market. It noted that wearing of face masks which was required for everyone during the global outbreak of the infectious disease, showed the world a clear demonstration of China’s might. The Economist said that any nation that hoped to produce masks on its own required well-developed industries in metallurgy, textiles, chemicals. And as well as other factors that needs to be considered such as a good supply of raw materials, industry workspace, expert personnel, engineers and capital.
It further stated that this feat cannot just be done from nothing as it was possible for China because they have the best supply distribution chain which contributes to almost half of the world’s supply since the beginning of the year. The information outlet said that China produced about a hundred and twenty million face masks daily. According to what the magazine said, the country’s large market of over a billion people was its second advantage as a manufacturing power. And this large market tends to attract foreign businesses that aim at reaching potential Chinese-based customers. The Economist further showered praises on China for the way it continues to handle, and cause a decline in the number of cases of the global outbreak in the country.