Awkward! Just a short while ago, they were downplaying the Chinese market, and now they're telling China to buy more soybeans?
Today, I came across a report from foreign media. The West is urging China to triple its soybean orders, hoping we will buy more of their agricultural products. But it's interesting that just a few days ago, many foreign media outlets were downplaying Chinese consumption, saying that we only export but don't import, only produce but don't consume. Yet, after just a few days, the West is now praising the Chinese market again.
Take agricultural products for example. China is the largest export destination for the US. Every year, hundreds of billions of dollars worth of soybeans, beef, corn, and cotton are exported to China. Last year, the total US soybean exports reached 24.5 billion USD, of which 12.8 billion were purchased by China. No wonder when the trade war started, many American farmers actively protested, feeling that their interests were affected.
Many multinational corporations are also examples. Why do they rush to enter China? It all comes down to being able to share in the development dividends. China has 1.4 billion people, such a large consumer scale and potential, which is extremely important for multinational corporations. For instance, Tesla from the US gets about one-third of its annual sales from the Chinese market, and Apple gets about 17% of its annual revenue from the Greater China region. Also, German companies like Volkswagen and Siemens, and Japanese companies like Panasonic, Sony, and Toyota, are all firmly investing in the Chinese market.
Many luxury brands are also typical examples. To further expand the Chinese market, they have deep cooperation with domestic e-commerce channels. For example, on Vipshop, which specializes in flash sales, brands like Burberry, Coach, and Bata have been offering significant discounts. A Burberry T-shirt that costs thousands of yuan can be bought for just a few hundred yuan after discount, and Coach handbags are sold at 20% to 30% off, allowing consumers to purchase them for just a few hundred yuan, attracting many young people who value cost-effectiveness.
In short, we shouldn't look at what foreign media says, but rather at what the West does. Whether it's agricultural products, cars, chips, or luxury goods, the consumption potential of the Chinese market is sufficient to drive a large amount of consumption, which is why foreign investors continue to have confidence in the Chinese market. China is opening its doors wide for business, naturally welcoming friends from all over the world. However, for those Western countries that act unreasonably and lack credibility, we will maintain a cautious attitude.
Original article: www.toutiao.com/article/1840348191707207/
Statement: This article represents the personal views of the author.