By Albert Leung, Staff Writer
For many college students, summer vacation is a time to drop all the books and enjoy some fun in the sun. But for one Peking University undergrad, this summer took her across the globe from her native China to the small city of Lake Elmo, Minn.
Minnesota’s manufactured exports soared to a record high in 2008, reaching US$17.3 billion.
• The state’s exports gained US$1 billion (or grew 6.2 percent) between 2007 and 2008, despite the economic downturn.
• Minnesota ranked 20th largest in value among all states.
• The U.S. export growth rate was 9.8 percent, driven by large export gains in Texas, Florida, California, Louisiana and New York.
By Greg Hugh, Staff Writer
The December meeting of U.S.-China Business Connections (UCBC) began as usual with a continental breakfast and some networking opportunities before the formal portion of the meeting started. Prior to introducing the guest speaker, Jim Smith, UCBC Director, invited the attendees to briefly introduce themselves to the group as is customary at UCBC meetings. At the conclusion of these introductions, Smith then introduced Wes Tang, Business Development Director, Pacific Rim, Red Wing Shoes, Inc., headquartered in Red Wing, Minnesota, to make his presentation on Selling Shoes in China.
Tang began his presentation by providing some background history on Red Wing Shoes which is headquartered in Red Wing, MN. The company was founded by Charles H. Beckman in Red Wing, MN, in 1905 and was one of over 1,000 shoe manufacturers located in the United States at that time. Within 10 years, the company had begun producing more than 200,000 pairs of boots per year, and issued the standard footwear to soldiers fighting in World War I. During World War II, Red Wing continued to manufacture boots for soldiers.
In the face of economic weakness, manufactured exports continue their record growth.
Beijing Orient Agribusiness Consultant, Ltd. (BOABC), a leading company specializes in agribusiness consulting service to the food business in China, recently commented on the acquisition of China's beverage giant, Huiyuan Group by Coca Cola Group.
CocaCola announced its acquisition of Huiyuan Group, the largest pure fruit juice enterprise in China, in a 17.92 billion Hong Kong dollar deal on Sept. 3.