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Sunday, March 27, 2005

"How China Will Change Your Business"

    Posted by Adam Crouch

Source: ContiTechThe March 2005 issue of Inc. Magazine has a tremendous article about China. It's adapted from Ted Fishman's China, Inc., and contains a great summary of the major China trends/issues that business leaders should know about. They are:

1. China's economy is much larger than the official numbers show.
2. The growth of China's economy has no equal in modern history.
3. China is winning the global competition for investment capital.
4. China can be a bully.
5. China's economy is an entrepreneurial economy.
6. The most daunting thing about China is not its ability to make cheap consumer goods.
7. China is closing the research and development gap -- fast.
8. China now sets the global benchmark for prices.
9. China's growth is making raw materials more expensive.
10. No company has embraced China's potential more vigorously than Wal-Mart.
11. There are hidden costs associated with doing business in China.
12. Piracy is a problem.
13. China's heavy buying of U.S. debt has lowered the cost of money in the U.S.
14. Americans and Chinese have become reliant on each other's most controversial habits.

Top-notch. Definitely worth the read.

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