The Economy and Me

I’m not an economist, so when China’s GDP figures were released last Thursday I reacted like any business owner would do, and looked at what that meant for my bottom line.
There are huge, complicated implications for any economic fluctuation – and while keeping informed on macro trends is important, the reality is that micro trends are going to affect most of us obviously and imminently.
It has been heavily reported that China exporters bore the brunt of the decrease in global demand following the economic crisis, in which case I should be worried. But my internal figures tell a different story.

It is offline trade that has seen the real impact of weakened export markets in China. My company, DHgate.com, has seen GMV increase by an average of 20% per month for the last 5 months, indicating that manufacturing companies in China are embracing new technology to reach international markets

Live interview on "Asia Business Tonight"

Live interview on "Asia Business Tonight"

With more than 30 years experience in international export, technology-wise China, via companies like my own, can provide mature solutions for suppliers allowing them to increase their capabilities and competitive advantage for global buyers.

Global demand is also improving, as DHgate’s figures will attest, with order increases recorded from international retailers in markets such as the US, Europe and Australia. Further, the Chinese customs agency said September exports fell 15.2 per cent to $115.9 billion US from the same period a year earlier, but that was the least in nine months, another sign that global demand is rebounding

In spite of what is happening in the global economy, I believe that if businesses can keep cost competitive, if they can differentiate, if they can provide a valuable and reliable service and/or product and if they can innovate, then there is a very good chance of success.

So when Bloomberg’s “Asia Business Tonight” show asked me to appear and discuss the results from my business’ perspective, I felt confident I could communicate these economic results from a real point of view – a business owner who wants to grow.

Has your business seen signs of the recovering economy? I’d love to hear your story, here.

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