China makes everything and makes a lot of it. Here are 10 things that China makes so much of that if production stops, consumers across the globe will find themselves missing out on certain creature comforts.
Not that China will stop production soon. In July, the manufacturing sector went against projections of a contraction, with the Purchasing Managers’ Index going up to 50.3 that month instead of dropping to 49.8 as forecast initially. A PMI of below 50 indicates contraction while a number above 50 means expanding activity. June PMI was 50.1. August PMI is expected to climb to a three-month high of 50.6.
The optimism for the manufacturing sector naturally carries through to exports as production is heavily geared toward the latter. In Global Sources’ recent supplier survey, for instance, more than 70 percent of respondents expect higher export revenue in the second half of 2013.