Quote

China also has moved away from its original status of purely producing basic, what you call, consumer commodities and Chinese companies are moving beyond China to various parts of the world.

China is the big economic engine in Asia, so what happens is, as China growth expands, these countries in the periphery of China, whether it be Indonesia, Malaysia, Singapore, the Philippines, they end up growing with China because they become big exporters.

China saves too much, produces too much, sells too much to Americans and consumes too little.

In the '80s and '90s, China went through a giant change. It needed all resources. At the time, I was in the recycled paper business, and I realized the China market was a blank slate.

There are supply chains that exist in China and Asia now which the U.S. simply can't replicate.

America is becoming more and more dependent upon imports from foreign manufacturers than we are exports from our country in all fields: in appliances, in clothing, even food. This year America may become for the first time in its history a net food importer.

Products made in China are cheap through the exploitation of the workforce. Every time we shop, we are driving the nail further into the coffin of American manufacturing jobs.

China is an area where we need to be present. Lots of companies want to supply their products to China.

Globalised manufacturing and procurement mean that a lot of high-polluting, heavy duty jobs are transferred to China. We will ask major companies, such as Wal-Mart, Microsoft and IBM to put pressure on their Chinese suppliers.

If the Chinese can't buy U.S. products, they'll buy them from European countries and then develop stronger economic ties with France and Germany and perhaps side more with those countries when international issues flare up.