Chazen Shanghai: Day 4 & 5

On Thursday, we started our day with a meeting with Rio Tinto where we discussed the impact of China’s growth on global demand for commodities. The team at Rio Tinto commented on how liquidity in China is tightening and how the credit crisis impacted the construction boom and corresponding residential boom. Our discussion also examined how urbanization of China has propelled demand for commodities. The Rio Tinto team noted that moving forward, economic growth will continue to be strong but there will be short-term shocks.

After yet another Chinese feast for lunch, we stopped by the office of AllBright, one of the largest law firms in China. We met with a couple of partners who walked us through a case study of a recent asset acquisition involving a joint venture between BorgWarner and ShenLong. We also learned about the process for a Chinese company trying to list on an overseas exchange and what the corporate structure might look like. In the evening, we had a happy hour with some CBS alumni, a mix of locals and expats, at a brewery in the French Quarter. We also took the opportunity to explore Shanghai’s nightlife at a bar in the Bund (an area of Shanghai by the river).

bar rouge

On Friday, we had a presentation from the founder of Jett, a company that focuses on customer service training for the hospitality industry in China. Clients range from small companies to Fortune 500 companies. The founder described some of the challenges local companies face when thinking about how to adopt a mindset more focused on customer service. He also chatted about examples of international companies that have come to China but have failed to achieve the same success they had in their home countries. After a filling hot pot lunch, a group of us wander the old city in Shanghai, including a visit to the Yuyuan Garden.

yuyuan

It’s hard to believe that it’s already time to fly back home! The week was very educational and a great opportunity to get to know my classmates better. See you all back in New York!

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