Since re-opening in 1979, China has reasserted itself on the world stage and is now aggressively challenging the USA as the world’s leading economic power. As China moves “FROM THE FACTORY OF THE WORLD TO THE MARKET OF THE WORLD”, growth in China revolves around domestic consumption. The burgeoning middle class of over 400m savvy consumers are now living and realising Deng Xiao Ping’s dream – “TO GET RICH IS GLORIOUS”, with rapidly changing diverse behaviour patterns.
Spurred on by years of foreign direct investment, China’s economy has transformed from copycat manufacturing into innovation and now pioneers in many fields including healthcare, driving disruptive change to challenge traditional western models. They have leapfrogged in E-commerce and social media and now in supply chain management direct and seamlessly to consumers. The China market is fiercely competitive and innovating at giddying speed, undermining the business models of the less nimble multinationals.
The massive BELT & ROAD initiative, potentially covering 60% of the world’s GDP, reflects China’s desire to restore its hegemony economically and politically, despite USA’s pushback. Will the world again be split into competing camps and systems as during the Cold War?
Metternich in explaining the balance of powers in the 19th century coined the original phrase, adapted post WWII: ‘When America sneezes, the world catches a cold’. Today’s version has become: When China suffers an epidemic, the World is hit by pandemic and lockdowns never seen before in peacetime. COVID-19 has had a cataclysmic impact on all the world’s economies but, as after the 2008 financial crash, China looks set to be the first economy to emerge into recovery. Many of us are searching for answers on the shape of things to come.
Brace yourself for leadership and competition insights as never seen before. Delve into, debate and discuss the impact of COVID-19 on the market, examining whether China could emerge stronger than ever, despite barriers such as the trade war, political opposition, key innovative trends and insights on healthcare that are set to accelerate. Join us on the 12th of June for an interactive deep dive into post crisis China with Vernon Bradley and Paul McDonald (ArrowLine Marketing Ltd) , industry experts with a combined 60 plus years of experience within China.