Accent on Asia: the Detroit Regional Economic Partnership is 'on the job' in China, India and South Korea.The Detroit Regional Economic Partnership wrapped up the fourth quarter of 2006 by participating in critical missions to China, India and South Korea that will yield both short-and long-term positive results for economic development in Southeast Michigan Southeast Michigan, also called Southeastern Michigan, is a region in the Lower Peninsula of the U.S. state of Michigan that is home to a majority of the state's businesses and industries, and is home to slightly over half the state's population. . [ILLUSTRATION OMITTED] These missions underscore The underscore character (_) is often used to make file, field and variable names more readable when blank spaces are not allowed. For example, NOVEL_1A.DOC, FIRST_NAME and Start_Routine. (character) underscore - _, ASCII 95. the importance of Asia in the global marketplace, says John W. Carroll Jr., the Partnership's executive director. Carroll participated in a two-week trip to China led by Wayne County Wayne County is the name of sixteen counties in the United States of America, some named for the American Revolutionary War general Anthony Wayne:
Why Asia? In the next 15 years, Asia--and particularly the powerhouses of China and India--will outpace out·pace tr.v. out·paced, out·pac·ing, out·pac·es To surpass or outdo (another), as in speed, growth, or performance. outpace Verb [-pacing, the rest of the world in gross domestic product, wages and consuming power, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a study conducted by the Economist Intelligence Unit The Economist Intelligence Unit (EIU) is part of The Economist Group. It is a research and advisory company providing country, industry and management analysis worldwide and incorporates the former Business International Corporation, a U.S. and sponsored by Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. . The Foresight 2020 study also projects that China will have closed the gap with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. as the largest consumer market in the world by the year 2020. Globally, real GDP Real GDP This inflation-adjusted measure that reflects the value of all goods and services produced in a given year, expressed in base-year prices. Often referred to as "constant-price", "inflation-corrected" GDP or "constant dollar GDP". will grow by 3.5 percent annually on average, making the world economy two-thirds bigger in 2020 than it was in 2005, and China alone will be responsible for 27 percent of this growth. Other key findings: * Economic growth is expected to remain robust over the next 15 years with China, India and the United States accounting for more than 50 percent of all new growth. Overall, both China and India's gross domestic product (GDP GDP (guanosine diphosphate): see guanine. ) will grow at an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. rate of 6 percent. * China's share of global consumer spending Consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level. will nearly triple in the next 15 years. Asia overall will be the largest consumer region. For example, by 2020 Asia is projected to account for 38 percent of all car sales, nearly double current levels. * 471 million net new workers will enter the global workforce, with China accounting for 65 million. India will account for a remarkable 142 million, with the United States a distant third with 12.5 million new workers. Travel Log: Asia Fall Mission Dateline: Nov. 3-22, 2006 By Bernard Pekor, Director, New Markets & Asia Detroit Regional Economic Partnership The Detroit Regional Economic Partnership's 20-day Asia Fall Mission featured an exciting itinerary and produced some good initial results for contacts between businesses in Southeast Michigan and their Asian counterparts. [ILLUSTRATION OMITTED] The trip began with a three-day stopover in Pune, India, followed by two days in Delhi. I was in Seoul, South Korea's capital, for four days at the midpoint mid·point n. 1. Mathematics The point of a line segment or curvilinear arc that divides it into two parts of the same length. 2. A position midway between two extremes. of the trip and then headed to Beijing for the final three days of this mission. In Beijing, I worked Auto China 2006, the largest automotive show in China this year. In short, the purpose of this mission was to market the Detroit Region as the best place for Asian companies to do business in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . I also met one-on-one with Asian business leaders as they work to build their presence in North America. Missions like this are also an opportunity to communicate the abilities and services our partners offer to assist companies locating in the United States. Ultimately, we want Asian companies to establish a presence in the Detroit Region and also to use the services of our partners in doing so. (Visit our Website at www.detroitchamber.com/drep for more information about the Partnership and our public- and private-sector partners.) The schedule kept me busy every waking hour! I met with 28 companies in India and 18 companies in Korea. About 85 percent of them were in the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. and the remaining 15 percent in other industries, primarily bio/life sciences. Crisscrossing this vast continent was both an adventure and a logistical challenge. My trip from Delhi to Seoul had me traveling all weekend. I left Delhi at 11 p.m. on Friday, arrived in Kuala Lumpur Kuala Lumpur (kwä`lə l  m`pr), city (1990 est. pop. at 7
a.m. on Saturday and then headed to Singapore five hours later. I left
Singapore at 6 a.m. Sunday for Tokyo and finally arrived in Seoul at
midnight. Fortunately, Northwest Airlines offers the best routing for a
trip like this.
I'm often asked why overseas missions like this are important for Detroit Regional Chamber members. My answer is that I am working on your behalf and on the behalf of our partners. It's a lot more efficient for one person to come and meet with these companies than for each partner company to send a representative. I will bring our partners into the process as their services are needed. For the short term, our goal in missions like this is to market the Detroit Region and inform Asian companies of the Partnership's services. For the long term, we hope to see these companies establish their North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. presence here. Travel Log: China Mission Dateline: Nov. 8-21, 2006 By John W. Carroll Jr., Executive Director Detroit Regional Economic Partnership Our two-week mission to China took us to the cities of Chongqing, Wuhan, Nanjing, Beijing, Shanghai and Tianjin. The delegation was led by Wayne County Executive Robert Ficano and supported by the Partnership. [ILLUSTRATION OMITTED] In general, the Partnership's role was to promote the Detroit Region as a good business location to the companies looking to do business here. Specifically, we wanted to find new companies. We conducted four seminars and worked the 2006 China International Sub-contracting Fair and the Beijing Auto Show An auto show, or motor show, is a public exhibition of current automobile models, debuts, concept cars, or out-of-production classics. It is commonly attended by automobile manufacturers. Most auto shows occur once or twice a year. . All in all, members of our delegation spoke to more than 400 people. [ILLUSTRATION OMITTED] It's interesting to note that the Chinese recognize that the North American International Auto Show in Detroit is still the most important auto show in the world. The Chinese automaker Geely Automotive Co. exhibited at last year's show. This year another Chinese automaker, Changfeng Group Co., plans to display four of its vehicles at NAIAS, marking the first time the company has ever displayed its cars outside of China. During our trip I signed a significant agreement with the Nanjing Chamber of Commerce. The intent of the agreement is to work together to promote trade and investment between the companies of the Detroit Region and Nanjing, including the development of strategic alliances. There is a strong network of business contacts in China who have previously worked in Detroit in the automotive industry. At a dinner with representatives from the Detroit Chinese Business Association, I was told that 140 people who had once worked in Detroit attended an event in China the weekend prior to our trip. These participants expressed surprise at how modern the Chinese manufacturing facilities are. Forty Chinese companies Chinese owned companies can be defined as enterprises within mainland China, Hong Kong, Macau and the Republic of China (Taiwan):
[ILLUSTRATION OMITTED] "China is experiencing unprecedented growth in manufacturing and research and development, and Wayne County is well positioned as the place where Chinese companies can invest and expand. The county is aggressively reaching out globally to attract jobs and investments. With our intellectual capital and trained workforce, we can provide the needed workers for jobs of the 21st century."--Wayne County Executive Robert Ficano |
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