{"id":95,"date":"2014-07-28T15:51:50","date_gmt":"2014-07-28T15:51:50","guid":{"rendered":"https:\/\/ukrainianengineering.com\/?p=95"},"modified":"2014-07-28T18:20:31","modified_gmt":"2014-07-28T18:20:31","slug":"local-exporters-china-matters-world-trade-center-keynoter-says","status":"publish","type":"post","link":"https:\/\/ukrainianengineering.com\/?p=95","title":{"rendered":"For Buffalo exporters, \u2018China matters,\u2019"},"content":{"rendered":"

$300 billion market beckons U.S. companies, World Trade Center keynoter says<\/strong><\/p>\n

By Emma Sapong<\/a> | News Business Reporter – October 3, 2013 – 6:53 PM<\/p>\n

The Chinese export market is booming for U.S. companies, and as China\u2019s middle class grows, so will opportunities for American businesses, the president of the U.S.-China Business Council said Thursday.<\/p>\n

\u201cIt\u2019s a $300 billion market for U.S. companies,\u201d John Frisbie said in an interview before speaking at World Trade Center Buffalo Niagara\u2019s 17th annual conference in Statler City. \u201cThat\u2019s why China matters; it matters for U.S. companies and for U.S. jobs.\u201d<\/p>\n

It also matters in Erie and Niagara counties, where the market for Chinese trade has grown by 330 percent in a decade from $76 million to $333 million in 2012.<\/p>\n

\u201cThat is significant growth,\u201d said Frisbie, who has been president of the private, nonprofit group that represent 220 companies doing business in China since 2004. His keynote speech was on \u201cSecuring Global Trade.\u201d<\/p>\n

More than 300 CEOs and other executives from companies in Western New York and Southern Ontario attended, while 22 local companies that do work overseas had their products on display.<\/p>\n

\u201cIt an opportunity to promote the international market and see what local companies are doing and spotlight their successes,\u201d said Christopher Johnston, president of World Trade Center Buffalo Niagara.<\/p>\n

A decade ago, China was far down on the export list for the U.S., but with a 17 to 18 percent a year growth, it\u2019s now the nation\u2019s third largest, behind Canada and Mexico. It\u2019s the sixth biggest trade market for New York, with $4.2 billion in exports for the state, an increase of 192 percent in the past decade. That\u2019s more than double the worldwide growth rate of 89 percent during that time, Frisbie said.<\/p>\n

For Western New York, it\u2019s No.\u20091 export to China is transportation equipment, valued at $99 million, followed by waste and scrap worth $72 million. Frisbie said more growth opportunities are \u201calready baked in\u201d because China\u2019s middle class is projected to double in the coming years to 600 million, increasing demand for consumer goods.<\/p>\n

While the Chinese economy is now experiencing moderate growth due to the European economic downturn, China is still a promising market because it\u2019s economy is growing by 6 percent to 7 percent a year, he said.<\/p>\n

Even so, many businesses are wary of the Chinese marketplace because of fears about the theft of intellectual property by Chinese manufacturers.<\/p>\n

Robert L. Stevenson, president of Eastman Machine Co., a Buffalo manufacturer of fabric-cutting machines, relayed stories of Chinese manufacturers illegally copying the appearance of Eastman\u2019s Blue Streak machine and other products.<\/p>\n

\u201cThey looked identical to ours,\u201d Stevenson said. Eastman even encountered a Chinese manufacturer whose imitation machine was called \u201cWestman.\u201d The company has addressed These infringements through the U.S. and Chinese legal systems, but it\u2019s a continuing problem.<\/p>\n

\u201cWe don\u2019t have the resources to play the legal game of Whac-A-Mole,\u201d Stevenson said, adding that after addressing one manufacturer\u2019s transgressions, another case pops up.<\/p>\n

Conrad Wong, intellectual property rights officer for the U.S. Patent and Trade Office, said it\u2019s \u201ca multifaceted problem\u201d that \u201cwe don\u2019t take lightly.\u201d<\/p>\n

He encouraged businesses to check with U.S. embassies and consulates in the countries they are doing business and, if a problem arises, address it within the host country\u2019s legal system. Wong said that China is cracking down on violators but that \u201cit\u2019s not a perfect system.\u201d<\/p>\n

\u201cIt\u2019s a conundrum,\u201d he said. \u201cIt\u2019s a push-pull that does occur, based on human nature.\u201d<\/p>\n

email: esapong@buffnews.com<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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