Shrinking demand from overseas has forced export-oriented manufacturers to rethink their strategies. Fortunately for them, a huge group of potential customers already exists in China. A kind of talking doll is a huge hit at this wholesale center in Beijing. But it was nowhere to be found on store shelves only a few months ago.
A kind of talking doll is a huge hit at this wholesale center in Beijing. But it was nowhere to be found on store shelves only a few months ago.
Doll company manager said, "This product was set to be exported to the US, Japan and Russia. But since the outbreak of the global financial crisis, there is no foreign demand, and we have to bring them home."
These products are finding eager buyers in the domestic market, helping pull export-oriented companies back from the brink of bankruptcy.
The manager also said, "Each day we are selling 150 dolls here in our country. There is a large market here that has allowed our factory to survive."
Apart from dolls, many other export products are making appearances here in China, including traditional artwork. These works have gained instant popularity with good quality at decent prices.
Turning towards home is expected to be a major trend for export manufacturers. Many industries have already adjusted to adapt to domestic demand, entering the fierce competition for a potential market of more than a billion people.
(CCTV January 22, 2009)
