Views And Perspectives

December 31, 2015
Serge Dumont
Awards, Video

In an interconnected world, companies must be tuned to changing dynamics not just in their own backyard, but also in international markets where they may yet have to venture.   Increasingly, what happens halfway across the world is likely to have both a direct and indirect impact on business on the home front.  In such a landscape, agility and open-mindedness are key to adjusting strategies and maximizing opportunities.

The USA has long been the principal driver in the world’s economy. At the same time, China has arrived as an economic power of global scale second only to the USA.  The speed at which the country has reached this tipping point has been breathtaking, from the world’s manufacturer just three decades ago to today’s outward-facing, increasingly sophisticated consumer society.

China should, therefore, be one of the key strategic components for any company with global aspirations.   Critical to success is being prepared to understand the country’s complete integration into international markets; to recognize its global ambitions for its domestic products and its leading position in the digital, technology, and services space; and to assess how the tastes of its middle class consumers and the exercise of their spending power will affect consumer options across the board.

Businesses that have successfully engaged with China understand that there is no short cut; planning should be for the long-term, in expectation of challenges along the way, but with many opportunities for achievement on both sides.