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Originally Posted by Badger52
Interesting anecdotal stuff actually; much better than the pronounciations from some policy wonk.
I've noticed over the years, in certain consumer items where the original company has put in a QC/QA presence (field office if you will) on the ground in China for the manufacturing, that they can aggressively compete with some good stuff. They seem quicker to learn what works; this seems (to me) similar in a cyclic way to what initially happened mid-20th century when the Japanese earned their reputation for "junk" and evolved that rather aggressively to good stuff worth having. Not specific to manufacturing, it just seems they have an attitude to make it happen if they get the operational daylight to do so because they've seen the flipside already. Not saying they've gone a completely different direction but the contrast is easy if we're going backwards at the same time.
I wonder how much accurate information they get on things like the success story of Venezuela who are finishing off the last course of themselves & reaching for a napkin.
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A big embarrassment for the Mainland Chinese I got to know was counterfeiting and blatant IP theft.
What they liked talking about was iterating. Starting out making something barely good enough, then improving 1% every time for eternity until they are world class.
Like the example of the Japanese you mentioned.
The old b&w TV shows that joked about Made in Japan in the 1950's was a shoe on the other foot 20+ years later.
We didn't have anyone from Venezuela in our cohort(gee, I wonder why) but a few from Columbia, Brazil, and Chile.
They didn't bite on my attempts to discuss Chile's history(ie Pinochet), but I think out of a lack of geopolitical understanding.
They thought Venezuela was a disaster because leadership ate the entire national business community.
I got the distinct sense from my Mainland Chinese classmates that they respected(maybe even thought needed) very firm(authoritarian) but fair or at least consistent leadership that leaves business alone to make money.
"Cultural cannibalism" we already covered, but besides that one....corruption was a big issue for them.
A big indicator was that some of them already owned properties outside of Mainland China with the rest actively shopping for some.
I had a few pass thru NZ in the past 6 months shopping.
I don't view it as a pro China indicator. I see it as a "lifeboat ticket" and store of value in case things get weird in China.
China's going big, real big, unless there's some nasty pandemic. But it will not all go up in a straight line, they'll have their big bumps too.