The root source of the rising conflict between the United States and China is over the protection of intellectual property. More than the volume of trade itself, which is heavily in China’s favor, protection for patents, trademarks, and copyrights has long been considered inadequate in China by the US.
The rapidly escalating trade war between the US and China is definitely going to continue to affect business for a long time to come. The first to feel it will be importers and exporters, but eventually it has to hurt everyone.
As with any other nation, doing business in China requires every business to pay their taxes. The system is more confusing than many nations, however, and compliance can be difficult.
Doing business internationally is always difficult, and that is especially true with China. The high language and customs barriers are often matched by completely different understandings of law and sovereignty.
Friday marked the beginning of the Chinese New Year, marking the Year of the Dog.
For one month during the year, the factories in China grind to a complete stop. The country is considered to be the world’s largest exportation powerhouse. Meaning, they make the rules when it comes to what gets made and when. As China uses the lunar calendar, it puts the most significant Chinese holiday smack in the middle of many importers busiest production season. Chinese New Year is a beautiful tradition that can, unfortunately, lead to an array of problems. Some of which can leave you scrambling to protect yourself and your product in a foreign legal process.
China has become a country with sizable global economic influence and changes to their production outputs cause a worldwide ripple effect. As the Chinese New Year approaches, U.S. retailers are closely monitoring their supply chains.
China is a land of opportunities that most US business cannot wait to venture into, thanks to its large economy and population. However, since the beginning of Trump administration, the political climate between the US and China has been heated up in what some business analyst term as a Trade War. Here are some facts that show the extent of strain in the business relationship between the two countries.
China is among the most populated countries in the whole world which makes it one of the largest markets globally. Its move from being an export-oriented powerhouse makes China the most preferred business destination for all companies looking to expand abroad. Its economy has grown rapidly over the past decade.
The opening of the Chinese marketplace has had a substantial impact upon the global economy. Many companies have been able to do business in China, allowing them to grow their customer base, as well as their profits.