We relied too much on the U.S. market.
China’s ability to consume has now reached a fairly high level. It’s at a turning point.
– Tom Tseng, General Manager of bicycle manufacturer Tandem Industries, whose U.S. sales have fallen 40% since September 2008
Fascinating front page article in today’s WSJ on Chinese manufacturers starting to focus on the domestic market as exports to the US have fallen off as a result of the financial crisis: “China Inc. Looks Homeward As U.S. Shoppers Turn Frugal”, The Wall Street Journal, September 29, A1.