US (MI): Governor’s wooing of Asia pays off
China is Michigan’s third largest export market after Canada and Mexico, according to figures cited by the Michigan Economic Development Corp. More than 100 Chinese companies operate in the state, ranked No. 8 last year among U.S. states exporting to China, up four spots from three years earlier.
The governor, a former CEO, venture capitalist and one-time plant manager for Gateway Inc., rightly is working to build relationships abroad by pushing to exploit economic opportunities that may exist between Michigan and China. He understands business-friendly government paired with the resurgent auto industry and a Detroit in financial recovery can woo new investment, because it is.
By 2025, estimates McKinsey & Co.’s Global Institute, China will claim 46 of the globe’s 200 largest cities. An estimated 190 million Chinese — equivalent to two-thirds of the total U.S. population — are expected to migrate to the nation’s cities, a trend historically accompanied by rising per capita income.
Snyder has continued his push for two of Michigan’s most under-appreciated assets: agricultural products and tourism. From destination golf and the Great Lakes to apples, cherries, blueberries and timber, Michigan is more than cars and home to some of the most spectacular bankruptcies in American history.
Source: detroitnews.com
