When US companies move out of China, Malayasia is NOT among their destinations!:(
From The Malaysian Insider:~~~~~~
Forty per cent of US firms consider moving factories out of China
October 14, 2012
Forty per cent of US importers and manufacturers are thinking of moving their manufacturing bases away from China. - Afp-Relaxnews
SHANGHAI, Oct 14 — Forty per cent of US importers and manufacturers are thinking of moving their manufacturing bases away from China according to a new business study, reported Taiwan-based dailyWantChinaTimes this past week.
This is one of the findings of US-based financial consultancy firm Capital Business Credit (CBC)’s quarterly “Global Retail Manufacturers and Importers Survey,” which also revealed that about 26 per cent of importers of retail goods surveyed have already moved some of their manufacturing out of China.
The main reasons cited for this trend are concerns over the quality of goods manufactured in China, the country’s rising operating costs, as well as rising competition from other increasingly popular manufacturing countries in Southeast Asia.
“While we at CBC continue to believe that China will remain a strong manufacturing partner for retail goods importers in the U.S., there is a shift taking place to either low cost manufacturing destinations like Vietnam and Pakistan, or on the opposite end of the spectrum, to cities in the US where importers can keep an eye on quality control and produce goods faster due to the elimination of overseas shipping times,” Andrew Tananbaum, executive chairman of CBC said in a statement.
In the report, 31.3 per cent of respondents of the study indicated they are moving their manufacturing to the US, followed by 18.8 per cent to Vietnam, 10.9 per cent to Pakistan, 9.4 per cent to Bangladesh and 3.1 per cent to the Philippines.
According to Canadian publication The Globe and Mail last month, several big Western manufacturers have already decided to move production out of China, including automated teller machine maker NCR Corp., and iconic toy maker Wham-O Inc.
Some Korean companies are also moving their manufacturing base out of China’s Guangdong province as a result of rising operating costs in the country, according to Korean news website Hankyoreh.
The daily added, without citing names, that the outgoing companies were from labor-intensive industries such as textiles, shoes and toys. — Afp-Relaxnews
DESIDERATA: In the paragraph BOLDED and RED-ed by Desi, NOTE that conspicuous by its absence is NegaraKu. You know WHY? My guess is that the foreign investments know that Malaysian leaders (from BN-UMNO) maketh a lot of npoise and create a lot of Sloganeering buzzwords which I think half the Cabinet can't cite their exact names -- BR1M, NKRA, NTP, etc, etc ad nauseum; are SRP and SPM and STPM among them ah, Mr PM? -- in my vocab, it's Cakap Banyak untuk SYIOK SENDIRI! When I did a stint as newsdog in Penang, one Hokkien phrase I like is "CHUI KONG LAMPAH SHONG!" Hey, if thou art a keen learnner of dialects, ask thy Hokkien friends to translate for you. Hal;f-past-7 Desi dares knot even try!