A recommended read for importers: Poorly made in China (and Vietnam, and everywhere else)
Poorly made in China: An Insider's Account of the China Production Game is an interesting read about the risks of doing business in China, as well as in Vietnam or other low-cost countries. As a manufacturer from Vietnam, we have to say that the author tells only half of the truth (or he knows only the half).
However, as we pointed out, there's truth in it and that shouldn't be taken lightly. Global sourcing is not an easy game as people may have thought. Sure, the rewards may be high (due to lower cost), but hence comes greater risks as well. The book shows how awful it is could be when doing business in Asia. It's good to be warned, isn't it?
There're a lot of reviews and comments on Amazon about the book so we'd rather introduce the book and point you to the website.
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On a second thought, importers are also partly responsible for the cheating culture at many manufacturers in low-cost countries. Why? Importers typically keep pushing the price down for higher profit (many don't even show respect to the manufacturers). In a nutshell, both sides are profit optimizers: one being greedy and the other cheating. Obviously, that's a negative sum game.
Hence, whether doing business in the US, Europe, or China/Vietnam, we still have to base on the Win-Win priciple. That means: respect the partner, build trust, think in terms of mutual benefit and long term, etc.
And this is Ayo's approach.
[ADB] Vietnam's Economy Outlook - Sep 2010
Here's the summary:
Steps taken by the government to stabilize the economy have contributed to an improvement in the external and foreign reserves positions. Economic growth quickened in the second quarter of this year relative to the first and is now forecast to be slightly higher in both 2010 and 2011 than anticipated in April. Projections for inflation are lowered a touch. This outlook assumes that policies during the forecast period focus on macroeconomic stability and that the policy stance is communicated effectively, while also addressing structural reforms.
The report also mentions that: Industry expanded by 6.5% in the first half of 2010, with double- digit growth in production of electricity, gas, and water, and a rebound in manufacturing to nearly 8% growth (from just 2% a year earlier) as world trade in manufactured goods recovered.
Many people told us that they like the name. It sounds good. Some of them asked: but what does it mean?
Well, if it sounds good, it generally means good . In Yoruba language (spoken by West Africans, including Nigerians), Ayọ means "Joy" or "Happiness". That's our original and official idea for the name.
How Ayo is pronounced:
FYI, we also have found Ayo's meanings in different contexts:
The Montpellier set is ideal for any kind of setting to help make a meeting with friends or partners a successful one. The simple, yet elegant design of the Montpellier is something that will amaze your visitors.
This garden set comes with a seating arrangement meant for four people, with optimal cushion to heighten the overall effect. The innovative semicircular design will surely draw attention from all people around.
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