Why Our Global Industry Cannot Ignore China

Back in 2006, the Goldman Sachs—the well-known global investment banking firm—predicted China’s economy would exceed that of western countries by 2050. However, according to Cartridge World CEO, China could become the number one world economy in 2016, making it the first “developing economy” in the history of the planet to do so.

At the RemaxWorld Summit 2016, Weedon noted China has developed a transportation system throughout the country, including the highly-developed high speed train network. With cluster manufacturing at the base of China’s manufacturing industry, 65% of components are now produced in China using its own raw materials, reducing the need for imports.

Weedon pointed out that in Zhuhai alone, there are over 680 companies directly related to printing consumables, and their export volume has exceeded $7.65 billion. It supplies 68.4% of the inkjet market, 40.1% of the toner market and 78.6% of the printer ribbon market.

He added China also has changed from ignoring filing patents for printing consumables to reaching the No.1 country in the world for the filing of Chinese patents. He urged the audience to remove its blinkers and include China in the business equation—lest they be left behind.

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