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Recession or boom, cost effective products here to stay
Mar '09
Thousands of Chinese and foreign enterprises participated in the 19th East China Import and Export Fair (“East China Fair") in Shanghai from 1-5 March in a very big hall covering an area of approximately 100,000 square meters, either in search of suitable buyer or looking for new and cost effective merchandise.

According to French businesswoman, Rose Marie and owner of a retail chain of stores, and who had travelled all the way from Paris, “Chinese low-priced merchandise, especially clothing and other daily consumer goods, will help western households get through the economic crisis”.

Rose Marie mainly looks for apparel and accessories merchandise, but also is a big buyer of other Chinese consumer products like carpets, curtains, socks, children's toys and many other goods, since they all are economically priced and have a very good consumer base in France.

This is one of the first large scale international trade fairs to be held in 2009 in China and many low-cost necessities are proving to be extremely popular with the buyers who have come from across the world in search of Chinese products. These economically priced goods will prove wrong the notion of trade protectionism.

"Most European households are inseparable from Chinese products and I think now it is a common phenomenon across most countries, since Chinese products along with, not only having a price edge, also possess a quality edge, a combination not available in goods from many other countries, added Rose Marie.

Experts are of the opinion that the financial crisis does not change people's demand for daily necessities, it only changes the consumption pattern and in the long run, good quality and economically priced products will always be in demand, recession or no recession.

China's official data reveals that outbreak of the financial crisis has not changed China's status as “Global Manufacturing Powerhouse” and its products from the light industrial sector registered exports of US $309.2 billion in 2008 and more than 100 kinds of different goods were exported to more than 200 countries.

Fibre2fashion News Desk - India

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