China is a large country, and is comprised of more than 1.3 billion people. Due to the effects of industrialization, China is becoming the most important country in international business. China’s economy ranks second in the world in terms of GDP. China is heralded as the fastest-growing economy across the globe, and it is continuously expanding its reach to many countries. When it comes to export products, China is the leading exporter in the world, with its massive production of goods and cost-efficient labor. In effect, China has become the second largest trading country worldwide, behind the United States. China is actively participating in the international market, and many of their private sectors have become immensely successful in the world market. Making a huge impact on the global economy, the country has influenced manufacturing trends over the past years and many groups have sought to take part in this growing country.
China’s industries are making headway into the international market. China’s agricultural industry is booming and is known as one of the leading producers of crops that are exported all over the world. In manufacturing, China is known to have large major industries, which account for the country to rank third in the world for industrial production. Some of the major industries that flourish in China are steel, aluminum, coal, iron, textiles, armaments, machinery, apparel, cement, machinery, petroleum, fertilizers, chemical, food processing. China is also making waves in the world market by producing automobiles and transportation such as ships, aircraft and locomotives – starting even to compete with Boeing. Manufacturing everything from small toys to big machines and even entire factories, the production of China is being exported to every nation. The breadth of China’s development is so wide that its effects are felt in regions in the opposite corner of the globe. People in different continents have been patronizing Chinese products primarily because they are inexpensive. Similarly, global companies are outsourcing China’s labor force to assemble parts of their products for cost reasons.
Due to globalization, China has become the favorite of outsourcing countries when it comes to manufacturing, assembling and other services. As businesses rush to work in China and with Chinese counterparts, the translation of business materials has become an important tertiary industry.