Summary: what we learned about China

Beyond the stories already shared, here is what some from the group commented on the major things they learned from the China trip:

– China for China

– Doing things the “Chinese” way

– Impressive road and infrastructure development

– No visible government presence

– Communism in label only (free enterprise vs. free country)

– The Chinese know the West, but not vice verse (to our detriment)

– Cheap capital (now) vs. cheap labor (before) is what is driving the country

– Increasing supply of quality domestic labor

– Guanxi or “relationships” and trust as pivotal to business in China

– China’s exports (trucks, business, domestic brands)

– A country to get old before it gets rich (aging population)

– Inflection point of the quality / price tradeoff

– China can force things through its internal approval systems quick (speed of putting up a building in a weekend for example)

– Foreign business / capital now needs to have a value add beyond just being from the West

– Government is serious about reducing corruption, pollution; increasing industrial and food saftey; economic reform (avoiding a real estate bubble); and being “a stronger nation for global prosperity and peace”…

Marianna Zaslavsky 13′

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