Taiwan shines in China's shadow

Taiwan just reported record high trade exports, with a 22 per cent monthly increase that nearly doubled analyst estimates. Not bad by any account, even if the rise was tempered by an increase in imports.

The handful of manufacturers I talked to were upbeat, with little fear that a downturn is imminent. When China's the biggest export market, the U.S. slowdown is not a key concern.

Though Taiwan's considered a low-cost manufacturer by most Americans, manufacturers have already been offshoring some jobs to mainland China, saying that they can't compete with China's inexpensive labor.

Though we Americans often focus on the local impact of global trends, China's surge is altering the way business is done in all industrialized countries.