David Straker compiles the encyclopeadic website changingminds.org yet somehow also finds time to write pithy reviews of articles and books. Here’s his take on a recent Harvard Business Review piece from Jun 2011 by George Stalk and David Michael.
- China is growing hugely in terms of domestic consumption.
- They are using their own goods more, creating a sustained economy.
- There are still millions of subsistance-level peasants.
- And there are millions of increasingly middle-class urbanites.
- In consumer categories such items as shoes, consumer electronics and jewelry, China is often the #1 or #2 market in the world.
- The combined flow of shipping containers between Asia and North America and Asia and Europe is now less than that within Asia.
- Most sales of Chinese air conditioners, motorcycles, trucks and steel are within China.
- China has 400 million internet users.
- China has about 90 cities with a middle-class population of 250,000+
- By 2020 this will rise to about 800.
- The U.S. and Canada together have less than 70.
- Chinese companies are already world leaders in wind-turbine blades, solar panels, highspeed rail equipment, steam boilers, port terminal cranes, and electric-transmission equipment.
- Most MNCs don’t really get China and are not moving fast enough there.
- Domestic competitors are rising fast.
- You have to be ready for business in hundreds of locations.
- You have to be able to grow very rapidly.
- You have to understand Chinese consumers, who are not like Western consumers.
- Competition will sort out market leaders very quickly.
- Chinese companies will invade your home turf soon.
- Western nations have less and less influence in China.
