Anyone surprised by this new report? According to the New York Times, the recession has made companies more conservative on price. So now, these companies are looking to Chinese suppliers, who have reduced prices, making it possible to grab the majority of the market share. Companies around the world are switching to China to cut costs and save money, making it easier for Chinese suppliers to gain leads in old markets and obtain new ones. China has surpassed Germany on exports this year and has become America's number one importer (formerly Canada).

According to the Wall Street Journal, consumers do not show a postive outlook to the economic upturn although exports have strengthened.

The Journal of Commerce has reported that China and the 10-nation ASEAN (Association of Southeast Asian Nations) signed a bilateral investment agreement this week completing the earlier signed trade agreement to cover goods and services and making it official. Implementation of this trade agreement is scheduled for January 2010.