Jim Doyle discusses the vitality of Wisconsin's trade with China. Wisconsin has experienced increased success in China over the years. New opportunities are being found every year to export to China.
China's economy is around a $2.5 trillion economy. It's GDP is expected to steadily rise over the course of the next five years, at least. It is worth creating economic relationships for the long term. Wisconsin's top exports are China's top imoports: medical equipment, electrical machinery, vehicle parts etc. Between 2001 and 2005 demand for such products grew 32%, showing only substantially increasing demand. China has gone from Wisconsin's 18th largest export destination ten years ago to its 3rd largest trading partner as of 2007.
Companies like Oshkosh trucks has been doing well because of China's increase in population and travel, new airports are being created and expanded, which require special industrial fire trucks by law. Additionally, the ginseng produced in Wisconsin accounts for 95% of production in America. Even though it is a native plant to china and is much used there, the Wisconsin ginseng is considered highly prized due in China to premium growing conditions.
Doyle, Jim. China: Opportunities for Wisconsin Business . Wisconsin Department of Commerce, n.d. Web. 27 Dec. 2012. .
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