Every time we find the label "Made in China" we are reminded that China is a place where goods are produced for a fraction of the US cost and distributed to over a billion potential consumers. Corporate giants such as Wal-Mart are investing heavily in China. Thousands of small to medium sized companies are getting in on the action too. In fact, it can be said that 2000 was the decade that got thousands of entrepreneurs to investigate how to import goods from China.

China has enjoyed an average 9.5% annual growth throughout the past 10 years, and its Gross Domestic Product (GDP) skyrocketed from $ 300B in 1985 to $ 1,600B in 2004, higher than the state of California. Meanwhile, the export-import volume has increased twelve-fold! Foreign direct investment has reached $ 550B during the same interval. China's blistering modernization from 1990-2010 made importing goods from China really attractive to retailers across the globe.

The country's first production census discovered that from 2004 to 2007, the GDP growth rate was of 10% annually. In 2007, the formally recorded GDP growth rate was 11.4 %. In 2008, the worldwide economic crisis began to reduce China's growth rate. To handle the crisis, the government decided to pump Rmb (China currency) 4 trillion into the economy in the form of an economic stimulus program consisting mostly of investments in fixed infrastructure and human capital.

Even though in early September 2009 mainland China was engaged in new trade dispute with the US over the imposition of an emergency duty on Chinese tires, a serious trade war is unlikely as this is not in the best interest of both countries. Mainland China is the largest creditor of the US, and the US is the Mainland's second biggest export market after the European Union. A trade war among two of the world's leading economies will also be detrimental to the global recovery just underway. China import export is here to stay, for now.

Northern Asia commonly (Japan, South Korea, Taiwan, Vietnam, and Mainland China) is a very good region for manufacturing products (Vietnam is like China fifteen years ago).

The obvious benefit of Mainland China today lies in its low production, labor and better quality control procedures, making it by far the most appealing place of the region.

Moreover, note that Chinese companies will provide you with what you ask, even if it is not within their production standards. They possess a remarkable ability to create a very creative design by mixing several existing designs you might have submitted to them. While Westerners do not necessarily like (or are even capable to) adjusting their production standards to special customer demands, a Chinese company would consider this a standard feature of their service.

Sets of standards such as ISO or 6-Sigma is not very common in China, but is implemented by the higher end companies. However, regardless of your order volume, quality control with China is a MUST. You must receive what you order and in the exact way you ordered it. From unsophisticated to complex products you should monitor quality control with Chinese manufacturers. Implement multiple QC check points during different stages of production. An importer's worst nightmare is getting a full container load of merchandise that is defective due to a wrong screw size, for example. If you still try to market them, or sell products that you don't know was designed wrong and later falls apart, this equals massive product returns, angry customers, and an accounting/billing department nightmare. As the Chairman of your own venture, you are responsible for ensuring that your products satisfactorily satisfy desired specifications.

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