I recently read The Future is Asian by Dr Parag Khanna. A short excerpt of his book states :”The Belt and Road Initiative is the most significant diplomatic project of the 21st century, the equivalent of the mid-20th-century founding of the United Nations and World Bank plus the Marshall Plan all rolled into one.”
I couldn’t agree more. Already the world’s largest economy by purchasing power parity, China will also become the largest consumer market in the world by year’s end. The biggest advantages in engaging China for business are certainly the size of the population and their purchasing power. The first immediate challenge, however, would be to bridge cultural differences and trust. The second one would be to navigate the unique mix of political centralisation and decentralisation throughout the country.
The most effective way we overcome these challenges is through the organisation of events where we are able to interact and build relationships with clients and partners on a personal basis.
To view my thoughts on Business Times, visit this link:
https://www.businesstimes.com.sg/views-from-the-top/riding-the-china-wave
