Last week, our topic was on China’s economic transition – moving from manufacturing economy to service & consumption. Some readers have reached out to me for additional examples. There are many, from factories moving out of China to a shrinking labor force in the country. I think an article from WSJ several days ago has done a good job summarizing this transition.
The article talks about the end of China’s coal economy, and simultaneously the rise of a technology sector. Here is the link (source: WSJ) for readers that are interested.
Additionally, I want to share a video related to this topic. Earlier this year, I attended a community event organized by Murrieta’s Chamber of Commerce. The event’s theme was Doing Business In China. The event focused on four tier-1 cities in China as well as culture manners that would be important for foreigners to observe when doing business in the country.
Long story short, the instructor shared a video with the class. I really liked it. It depicted a vivid picture of a country faced with problems from two ends of the string. I hope you will enjoy it as well.
Next week, we will finish up our series of Sell Products to 1.3B Consumers In China. We will try to understand the typical shopping process of average Chinese consumers, and indicate opportunities for you to engage with them throughout this process. Have a great rest of the weekend!