For the longest time, China has been known as a manufacturing powerhouse and because of that, its quality of goods has a notorious reputation. Consumers shun away and give products a smirk whenever there is a “Made in China” label on it.
American consumers associate Chinese manufacturing with the terms “mass produced,” “cheap” and “poor safety standards” more than anything else.
However, that is now changing.
“Made in China” is now a compliment as the emphasis on quality is returning.
Fast Company just announced their own list of the World’s 50 Most Innovative Companies. Other than tech giants from the west such as Google, Apple, Tesla, Dropbox and a handful of others, several Chinese companies rose to the list, raising the eyebrows of industry watchers.
In particular, Xiaomi, emerged as the third most innovative company just behind Google and Bloomberg, beating several other companies including Apple and Nike. Xiaomi is reinventing the smartphone business, a segment that is exploding around the world now.
CHINDIA ALERT: You'll be living in their world, very soon 