In March, as a visiting delegation of Swedish investors and bankers passed through China's factories and shipyards for the first time since the Covid-19 pandemic, what they witnessed was a shock to their systems.
Across the mainland, where Sweden's manufacturers have a longstanding presence, competition from Chinese firms was "ferocious", even "monstrous", according to Mr Mattias Sundling, chief equity strategist at Handelsbanken.
"The way they have caught up and developed in just two or three years was just stunning to us," he said.
"The cliched image of Chinese competition was one of cheap copies. I think the wake-up call for us when we were on this trip is that this is no longer the case." From high school examinations to bubble tea franchises, intense domestic competition is pervasive across China. Now, as embodied in expanding electric vehicle (EV) production, that sense of competition poses a growing challenge to international businesses.
Autos are just one part of a wider industrial framework within which, for decades, developed economies have relied on China as an inexpensive and collaborative manufacturing hub.
The Swedish presence includes giants such as Atlas Copco, the world's leading provider of air compressors, and Sandvik, which makes mining equipment.
この記事は The Straits Times の April 17, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は The Straits Times の April 17, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
GAWILAN EYES PARIS PEAK
But before that, the Filipino is set to duel with Toh at OCBC Aquatic Centre
DOI WANTS TO BE SPL LEGEND ON RETURN
After tough’ stints, 2021 Player of the Year looks to make a bigger impact with Geylang
Intensity helps Paul to unlock Hurkacz
When things got a little topsy-turvy at the Italian Open quarter-finals on May 16, Tommy Paul told himself that he had to up the \"intensity\" to win.
DONCIC PLAYS SMILING ASSASSIN
Slovenian star finds his focus as Mavericks silence Thunder; Celtics see off Cavaliers
VJC TEAMS FLOOR RIVALS IN A DIVISION
Boys survive tense test in shoot-out win over RI as girls avenge loss to River Valley
SIA shares slip amid Investor concerns over rise In costs
Carrier says it is well-positioned despite headwinds as competition intensifies
Red Sea disruptions fragmenting global LNG trade into regions
LONDON It has been four months since a liquefied natural gas (LNG) tanker has passed through the narrow strait separating the Arabian Peninsula and Africa, testament to how violent attacks there have upended global energy trade.
Charles Keith’s co-founder named Businessman of the Year
Charles Wong lauded for role in turning shoe retailer into global fashion brand
Amazon workers say they struggle to afford food, rent
But firm describes study on US employees’ economic well-being as deeply flawed’
SUTD partners 12 institutions to enhance design education
Global alliance to explore student and faculty exchanges; it includes schools in Beijing, NY