China-Africa: Chinese cars were increasingly popular in Kenya
Thomson Reuters
CORRECTED-China commentary says crisis an export opportunity
BEIJING, March 22 (Reuters) - The global economic crisis is actually a great opportunity for Chinese exports, as people with tight budgets around the world are looking for exactly the cheap goods China provides, a commentary said on Sunday.
China’s exports tumbled 25.7 percent in February as the world’s third-largest economy felt the full force of the global financial crisis. But the official Xinhua news agency said in a commentary that people with less money to spend would be attracted to just the kinds of products China excels in, namely cheap ones.
‘Simply speaking, even though there’s a crisis, people still have to get by, and there’s no escape from consumption,’ it said.
Xinhua pointed out that Chinese cars were increasingly popular in Kenya, thanks to their low cost.
‘During a time of economic crisis, people will give even more consideration to usability, quality and cost. So it’s hardly surprising Kenyans like Chinese cars so much,’ it added.
Taking advantage of this, the central Chinese province of Hubei had seen its exports to Africa rise two-thirds since October, the piece said.
‘Find out what the market needs, find a market niche, and you’ll see there’s still plenty of room for Chinese products,’ it added.
Tags: kenya