Showing posts with the label machinery trade asia

Economic Hubs in Asia Foster Economic Development

East Asia is increasing as a powerhouse of manufacturing but is also becoming a consumer of finished worldwide products. According to research by Ando (2011), the region was able to recover quickly from the financial difficulties of the recession due to its interconnected business activity. As wealth increases in the area, so will the consumption and needs of the local population.   Companies would be wise to target the growing wealth of the area to sell products and services.  Direct foreign investment has increased the distinct East Asian industries of general machinery, electric machinery, transport equipment, and precision machinery. These well developed countries that dominated the machinery trade have now been replaced by the growing machinery trades of East Asia. Its dominance is tied to its exportability of products and interconnected manufacturers.  The advantages of this region rely on interconnected blocks of manufacturing ability that allow interconnectivity