Western companies are increasingly pursuing the ‘Chinese Dream’ of trading opportunities in China.
That’s according to Transform Magazine, reporting on the news that Chinese brands themselves have grown by an astonishing 271 percent in value over the last five years.
By way of example, in the automotive industry, almost every Western brand has gone to great efforts to build local partnerships and increase sales in China.
For those who succeed in doing this, the potential rewards are enormous. China has the world’s largest car market and the largest foreign manufacturer, Volkswagen, recently credited its Chinese business as being of fundamental importance to global sales.
The German company even described China as being its ‘second home.’
For those who don’t succeed, then a poor strategy in China has proved to have global repercussions on sales and share prices. This has proved to be try for both Ford and Citroen / Peugeot owner PSA over the last few months.
Of course, such a ‘Chinese Dream’ isn’t limited to the automotive industry. Indeed, in almost every sector of the economy, there are strong examples to illustrate the desire of Western companies to increase their business in the country.
As China’s economy continues to grow at an impressive rate, this trend looks set only to continue.
The 2018 Boao Forum for Asia (BFA) annual conference is scheduled for April 8 to 11 in Boao, Hainan Province. The forum will be themed "An Open and Innovative Asia for a World of Greater Prosperity."
— The Daily Mail - People's Daily