US Businesses Concerned Over China
With the decline in quality of China products and the growing concern over its weak intellectual property rights, US businesses said the Asian country is a risky source of supply and expressed plan to look for other alternative sources.
Meanwhile, companies such as Intel Corp, Cisco Systems Inc, Boeing Co, Johnson & Johnson, and other major industries have deemed China as too risky.
With the rising cost of China products and the decline of its quality and the growing concern over its weak intellectual property rights, US businesses have started to see the risks in dealing and importing with the said Asian country and plan to look for other alternative sources, according to a market research firm.
In a report released by AMR Research Inc. on Thursday, 26 percent of US manufacturers and retailers considered China as a risky supply source, up from 21 percent in February.
The report also said that more manufacturers expressed concern over the increasing labor cost in China. More business owners are also considering to find other alternative source of supply than the said country.
In terms of intellectual property issues, nearly 60 percent of businesses said China is too risky compared to 4 percent in Eastern and Central Europe and 8 percent in India.
Meanwhile, the research firm said that businesses considered the US and other Asian countries as less risky compared to China.s
In a statement, AMR chief strategist Kevin O’Marah said that businesses, such as Intel Corp, Cisco Systems Inc, Boeing Co, Johnson & Johnson, and other major industries have also deemed China as too risky.
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