Why China Is A Unique Economy Essay
China, the world’s second largest economy and home to over a billion people, is or will be a major market for most businesses. China exists in all supply chains or value chains, either as a consumer of certain goods and services or a manufacturer of a large number of goods and increasingly, a provider of services.
China is home to one of the most rapidly urbanizing populations, with 300 million migrating from rural areas to the cities. These people are potential consumers for many of the world’s goods. It also has one of the largest bank deposits in the world and has built up a huge manufacturing scale in the past 20 years. The Chinese internet is exploding with over 550 million users and rapidly growing.
All these reasons make a compelling reason to do business in China. Whether your company buys something or sells something, China is going to figure somewhere in the picture.
Why this book?
China is a unique economy. For such a large economy in the age of the internet, it is remarkably shrouded in mystery. For any businessperson looking to do business in China, it is important to understand the Chinese consumer and the local market. But it is also equally important, if not more, to understand the government and power structure in China. This is especially key if the foreign party hails from a democracy. The company’s experiences in China can be vastly different from those at home.
Coming from an entrepreneurial background in an emerging market, I can attest to…