Mar-25-13 By Rowan Gibson
After thirty years as a “workshop for the world”, China is steadily and resolutely moving up the value chain. And this transition – from low-cost manufacturing to world-class innovation, design and marketing – will change the rules of competition everywhere on earth, including inside China. So take a good look at your company’s strategic priorities for 2013 and ask yourself if this question is on the list: “Are we gearing up for China 2.0?”
On a recent trip to Beijing, I was struck by how radically the focus of everyday business conversations has changed. And this has nothing to do with the global recession, which temporarily took some of the wind out of China’s sails. It has much more to do with the realization that China is entering a new and quite different era in its economic development, and that companies (both local and foreign) will have to act quickly and decisively if they are going to carve out a place in it.