An unquestioned fact, China is the fastest
growing economy of the world. Starting beginning of 2008,
the country became the world’s third largest economy chasing
after U.S. and Japan. As the country grow richer, retail sales
in China have reached over 6 trillion RMB and are expected
to continue increasing in the next 10 years to 30 trillion
RMB. The local consumers are demanding well-made and designed
products. Driving by this demand from the market, the manufacturers
need good designs.
Meanwhile, on the export market, China is
well known for “MADE IN CHINA”. The country has made itself
the factory of the world in the last 30 years. Since last
a couple years, due to the factors such as depreciation of
U.S. dollar, increasing prices of labor and material etc.
, China can no longer compete on prices alone. That forces
the Chinese companies to make change. This new market development
has great impact on life style product sector. Most of the
Chinese companies in the industry take product design as serious
as never before and indeed they need good designs to stay
competitive.
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