A local paper from China’s Zhejiang province has published an article about Chinese traders in southern Iraq. It’s long, so I’ll look at the details over two posts. But the experiences of these traders say a lot more than can be gleamed from the trade data itself.
First up is 50-year old Chan. He sells gowns for 60 yuan (about $10) a piece. He reckons to have made 300,000 yuan ($44,000 in the past month). Not a bad day’s work. The gowns are made in his family’s factory in China, and he changes his stock once a month, to keep ahead of competitors. I’m not surprised given that he claims profit margins are 50 percent.