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China not a 'world factory'
(chinadaily.com.cn)
Updated: 2004-05-25 16:41
Opinions were divided on whether China has become a "world factory" at the "Forum on Chinese Enterprises' International Competitiveness," which opened at the Great Hall of the People in Beijing May 21.
Famous economist Wu Shuqing said that the concept of the "world factory" has changed. Britain, the "world factory" of the mid-19th century, boasted world-famous products and an abundant sales income, while China still has a long way to go, noted Wu.
Wang Zhongming, director of the Economic Research Center of the State-Owned Assets Supervision and Administration Commission, believes that during the world-industry structure adjustment, China was selected as a factory of low-end manufacturing industries, such as garments and household appliances, rather than a "world factory".
Wang added that since the world's manufacturing industry has become very complex and in need of more international cooperation, no single country can be dubbed a "world factory".
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