Until recently China has been based almost exclusively on the mass production of cheap consumer products, but now the Asian giant is beginning to put pressure on their competitors in key sectors such as telecommunications, production of solar panels, high-speed trains and power grids between other durable goods.
James Stetler, an analyst at Unicredit Italian firm, believes that Chinese companies are putting capital into trouble with leading European and American world.
In addition, it is expected that very soon the Chinese begin to push hard in other areas like construction equipment and mining, power generation, transmission and distribution systems, among others.
In 2009, Chinese exports of machinery, a sector which until 2007 dominated Germany, exceeded 50% over those of this European country.
In the area of manufacturing high-speed train, China is already competing on a par with companies like Siemens of Germany, and Bombardier of Canada. It also begins to prevail in the market for solar panels, until recently in the hands of German companies.
Chinese companies also have a program of government support and credit facilities which allows them to compete aggressively on price.
What apparently worries the United States and Europe is what the Chinese are fast learners and steps up on the latest technology.
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Tags: Asian, China, Chinese companies, consumer products, latest technology, nicredit Italian firm