the.world.is.flat-第25章

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Japan；　being　right　next　door　to　China；　has　taken　a　very　aggressive　approach　to　
internalizing　the　China　challenge。　Osamu　Watanabe；　chairman　of　the　Japan　External　
Trade　Organization　（JETRO）；　Japan's　official　organ　for　promoting　exports；　told　me　
in　Tokyo；　〃China　is　developing　very　rapidly　and　making　the　shift　from　low…grade　
products　to　high…grade；　high…tech　ones。〃　As　a　result；　added　Watanabe；　Japanese　
companies；　to　remain　globally　competitive；　have　had　to　shift　some　production　and　a　
lot　of　assembly　of　middle…range　products　to　China；　while　shifting　at　home　to　making　
〃even　higher　value…added　products。〃　So　China　and　Japan　〃are　becoming　part　of　the　same　
supply　chain。〃　After　a　prolonged　recession；　Japan's　economy　started　to　bounce　back　
in　2003；　due　to　the　sale　of　thousands　of　tons　of　machinery；　assembly　robots；　and　other　
critical　components　in　China。　In　2003；　China　replaced　the　United　States　as　the　biggest　
importer　of　Japanese　products。　Still；　the　Japanese　government　is　urging　its　companies　
to　be　careful　not　to　overinvest　in　China。　It　encourages　them　to　practice　what　Watanabe　
called　a　〃China　plus　one〃　strategy：　to　keep　one　production　leg　in　China　but　the　other　
in　

a　different　Asian　country…just　in　case　political　turmoil　unflattens　China　one　day。　
This　China　flattener　has　been　wrenching　for　certain　manufacturing　workers　around　the　
world；　but　a　godsend　for　all　consumers。　Fortune　magazine　（October　4；　2004）　quoted　
a　study　by　Morgan　Stanley　estimating　that　since　the　mid…1990s　alone；　cheap　imports　
from　China　have　saved　U。S。　consumers　roughly　600　billion　and　have　saved　U。S。　
manufacturers　untold　billions　in　cheaper　parts　for　their　products。　This　savings；　in　
turn；　Fortune　noted；　has　helped　the　Federal　Reserve　to　hold　down　interest　rates　longer；　
giving　more　Americans　a　chance　to　buy　homes　or　refinance　the　ones　they　have；　and　giving　
businesses　more　capital　to　invest　in　new　innovations。　
In　an　effort　to　better　understand　how　offshoring　to　China　works；　I　sat　down　in　Beijing　
with　Jack　Perkowski　of　ASIMCO；　a　pioneer　in　this　form　of　collaboration。　If　they　ever　
have　a　category　in　the　Olympics　called　〃extreme　capitalism；〃　bet　on　Perkowski　to　win　
the　gold。　In　1988　he　stepped　down　as　a　top　investment　banker　at　Paine　Webber　and　went　
to　a　leverage　buyout　firm；　but　two　years　later；　at　age　forty…two；　decided　it　was　time　
for　a　new　challenge。　With　some　partners；　he　raised　150　million　to　buy　companies　in　
China　and　headed　off　for　the　adventure　of　his　life。　Since　then　he　has　lost　and　remade　
millions　of　dollars；　learned　every　lesson　the　hard　way；　but　survived　to　become　a　


powerful　example　of　what　offshoring　to　China　is　all　about　and　what　a　powerful　
collaborative　tool　it　can　become。　
〃When　I　first　startedback　in1992…1993；　everyone　thoughtthe　hard　part　was　toactually　
find　and　gain　access　to　opportunities　in　China；〃　recalled　Perkowski。　It　turned　out　
that　there　were　opportunities　aplenty　but　a　critical　shortage　of　Chinese　managers　
who　understood　how　to　run　an　auto　parts　factory　along　capitalist　lines；　with　an　
emphasis　on　exports　and　making　world…class　products　for　the　Chinese　market。　As　
Perkowski　put　it；　the　easy　part　was　setting　up　shop　in　China。　The　hard　part　was　getting　
the　right　local　managers　who　could　run　the　store。　So　when　he　initially　started　buying　
majority　ownership　in　Chinese　auto　parts　companies；　Perkowski　began　by　importing　
managers　from　abroad。　Bad　idea。　It　was　too　expensive；　and　operating　in　China　was　just　
too　foreign　for　foreigners。　Scratch　plan　A。　
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〃So　we　sent　all　the　expats　home；　which　gave　me　problems　with　my　investor　base；　and　
went　to　plan　B；〃　he　said。　〃We　then　tried　to　convert　the　'Old　China'　managers　who　
typically　came　along　with　the　plants　we　bought；　but　that　didn't　work　either。　They　
were　simply　too　used　to　working　in　a　planned　economy　where　they　never　had　to　deal　
with　the　marketplace；　just　deliver　their　quotas。　Those　managers　who　did　have　an　
entrepreneurial　flair　got　drunk　on　their　first　sip　of　capitalism　and　were　ready　to　
try　anything。　
〃The　Chinese　are　very　entrepreneurial；〃　said　Perkowski；　〃but　back　then；　before　China　
joined　the　WTO；　there　was　no　rule　of　law　and　no　bond　or　stock　market　to　restrain　this　
entrepreneurialism。　Your　only　choices　were　managers　from　the　state…owned　sector；　who　
were　very　bureaucratic；　or　managers　from　the　first　wave　of　private　companies；　who　
were　practicing　cowboy　capitalism。　Neither　is　where　you　want　to　be。　If　your　managers　
are　too　bureaucratic；　you　can't　get　anything　done…they　just　give　excuses　about　how　
China　is　different…and　if　they　are　too　entrepreneurial；　you　can't　sleep　at　night；　
because　you　have　no　idea　what　they　are　going　to　do。〃　Perkowski　had　a　lot　of　sleepless　
nights。　
One　of　his　first　purchases　in　China　was　an　interest　in　a　company　making　rubber　parts。　
When　he　subsequently　reached　an　agreement　with　his　Chinese　partner　to　purchase　his　
shares　in　the　company；　the　Chinese　partner　signed　a　noncompete　clause　as　part　of　the　
transaction。　As　soon　as　the　deal　closed；　however；　the　Chinese　partner　went　out　and　
opened　a　new　factory。　〃Noncompete〃　did　not　quite　translate　into　Mandarin。　Scratch　
plan　B。　
Meanwhile；　Perkowski's　partnership　was　hemorrhaging　money…　Perkowski's　tuition　for　
learning　how　to　do　business　in　China…and　he　found　himself　owning　a　string　of　Chinese　
auto　parts　factories。　〃Around　1997　was　the　low　point；〃　he　said。　〃Our　company　as　a　
whole　was　shrinking　and　we　were　not　profitable。　While　some　of　our　companies　were　doing　
okay；　we　were　generally　in　tough　shape。　Although　we　had　majority　ownership　and　could　
theoretically　put　anyone　on　the　field　that　we　wanted；　I　looked　at　my　＇managerial＇　
bench　and　I　had　no　one　to　put　in　the　game。〃　Time　for　plan　C。　
〃We　essentially　concluded　that；　while　we　liked　China；　we　wanted　no　
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part　of'Old　China；'　and　instead　wanted　to　place　our　bets　on　'New　China'　managers；〃　
said　Perkowski。　〃We　began　looking　for　a　new　breed　of　Chinese　managers　who　were　
open…minded　and　had　gotten　some　form　of　management　training。　We　were　looking　for　
individuals　who　were　experienced　at　operating　in　China　and　yet　were　familiar　with　
how　the　rest　of　the　world　operated　and　knew　where　China　had　to　go。　So　between　1997　
and　1999；　we　recruited　a　whole　team　of'New　China'　managers；　typically　mainland　Chinese　
who　had　worked　for　multinationals；　and　as　these　managers　came　on　board；　we　began　one　
by　one　to　replace　the　'Old　China'　managers　at　our　companies。〃　
Once　the　new　generation　of　Chinese　managers；　who　understood　global　markets　and　
customers　and　could　be　united　around　a　shared　company　vision…and　knew　China…was　in　
place；　ASIMCO　started　making　a　profit。　Today　ASIMCO　has　sales　of　about　350　million　
a　year　in　auto　parts　from　thirteen　Chinese　factories　in　nine　provinces。　The　company　
sells　to　customers　in　the　United　States；　and　it　also　has　thirty…six　sales　offices　
throughout　China　servicing　automakers　in　that　country　too。　
From　this　base；　Perkowski　made　his　next　big　move…taking　the　profits　from　offshoring　
back　onshore　in　America。　〃In　April　of　2003；　we　bought　the　North　American　camshaft　
operations　of　Federal…Mogul　Corporation；　an　old…line　components　company　that　is　now　
in　bankruptcy；〃　said　Perkowski。　〃We　bought　the　business　first　to　get　access　to　its　
customers；　which　were　primarily　the　Big　Three　automakers；　plus　Caterpillar　and　
Cummins。　While　we　have　had　long…standing　relationships　with　Cat　and　Cummins　…　and　
this　acquisition　enhanced　our　position　with　them…　the　camshaft　sales　to　the　Big　Three　
were　our　first。　The　second　reason　to　make　the　acquisition　was　to　obtain　technology　
which　we　could　bring　back　to　China。　Like　most　of　the　technology　that　goes　into　modern　
passenger　cars　and　trucks；　people　take　camshaft　technology　for　granted。　However；　
camshafts　＇the　part　of　the　engine　that　controls　how　the　pistons　go　up　and　down＇　are　
highly　engineered　products　which　are　critical　to　the　performance　of　the　engine。　The　
acquisition　of　this　business　essentially　gave　us　the　know…how　and　technology　that　
we　could　use　to　become　the　camshaft　leader　in　China。　As　a　result；　we　now　have　the　
best　camshaft　technology　and　a　customer　base　both　in　China　and　the　U。S。〃　

This　is　a　very　important　point；　because　the　general　impression　is　that　offshoring　
is　a　lose…lose　proposition　for　American　workers…something　that　was　here　went　over　
there；　and　that　is　the　end　of　the　story。　The　reality　is　more　complicated。　
Most　companies　build　offshore　factories　not　simply　to　obtain　cheaper　labor　for　
products　they　want　to　sell　in　America　or　Europe。　Another　motivation　is　to　serve　that　
foreign　market　without　having　to　worry　about　trade　barriers　and　to　gain　a　dominant　
foothold　there…particularly　a　giant　market　like　China's。　According　to　the　U。S。　
Commerce　Department；　nearly　90　percent　of　the　output　from　U。S。…owned　offshore　
factories　is　sold　to　foreign　consumers。　But　this　actually　stimulates　American　exports。　
There　is　a　variety　of　studies　indicating　that　every　dollar　a　company　invests　overseas　
in　anoffshore　factory　yields　additional　exports　for　its　home　country；because　roughly　


one…third　of　global　trade　today　is　within　multinational　companies。　It　works　the　other　
way　as　well。　Even　when　production　is　moved　offshore　to　save　on　wages；　it　is　usually　
not　all　moved　offshore。　According　to　a　January　26；　2004；　study　by　the　Heritage　
Foundation；　Job　Creation　and　the　Taxation　of　Foreign…Source　Income；　American　
companies　that　produce　at　home　and　abroad；　for　both　the　American　market　and　China's；　
generate　more　than　21　percent　of　U。S。　economic　output；　produce　56　percent　of　U。S。　
exports；　and　employ　three…fifths　of　all　manufacturing　employees；　about　9　million　
workers。　So　if　General　Motors　builds　a　factory　offshore　in　Shanghai；　it　also　ends　
up　creating　jobs　in　America　by　exporting　a　lot　of　goods　and　services　to　its　own　factory　
in　China　and　benefiting　from　lower　parts　costs　in　China　for　its　factories　in　America。　
Finally；　America　is　a　beneficiary　of　the　same　phenomenon。　While　much　attention　is　
paid　to　American　companies　going　offshore　to　China；　little　attention　is　paid　to　the　
huge　amount　of　offshore　investment　coming　into　America　every　year；　because　foreigners　
want　access　to　American　markets　and　labor　just　like　we　want　access　to　theirs。　On　
September　25；　2003；　DaimlerChrysler　celebrated　the　tenth　anniversary　of　its　decision　
to　build　the　first　Mercedes…Benz　passenger　car　factory　outside　Germany；　in　Tuscaloosa；　
Alabama；　by　announcing　a　600　million　plant　expansion。　〃In　Tuscaloosa　we　have　
impressively　shown　that　we　can　produce　a　new　production　series　with　a　new　workforce　
in　a　new　factory；　

and　we　have　also　demonstrated　that　it　is　possible　to　have　vehicles　successfully　'Made　
by　Mercedes'　outside　of　Germany；〃　Professor　Jiirgen　Hub…bert；　the　DaimlerChrysler　
Board　of　Management　member　responsible　for　the　Mercedes　Car　Group；　announced　on　the　
anniversary。　
Not　surprisingly；　ASIMCO　will　use　its　new　camshaft　operation　in　China　to　handle　the　
raw　material　and　rough　machining　operations；　exporting　semifinished　products　to　its　
camshaft　plant　in　America；　where　more　skilled　American　workers　can　do　the　finished　
machining　operations；　which　are　most　criti