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Spotlight

A Closer Look at the Red Dragon of Asia

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Posting a 2014 GDP of US$ 10354.80 billion in 2014, which accounts for 16.70 per cent of the world economy,[1] China has indeed gone far in the past decades. The rapid economic progress of the now world’s second largest economy has made it a sweet spot for investments, attracting foreign and local investors alike. In 2015, for example, the value of Chinese stocks hit a record-high amount of US$ 10.05 trillion, according to data by Bloomberg.[2]

Though much can be said about the economic prowess and progress of the red dragon of Asia, however, there are still challenges that need to be overcome. A notable challenge lies in the relative ease of doing business. In its 2015 Ease of Doing Business Report, the World Bank ranked China 90th of the 189 countries.[3] A general lack of understanding of China could account for this because would-be investors face, among others, challenge in human resources, lack of knowledge of the culture resulting in marketing difficulties and government regulations that they may find too tight.

The challenge, nevertheless, may be addressed by establishing partnerships with “insiders” in the country because understanding every detail relevant to success in doing business in the country comes as natural as breathing to them. Through partnerships, access to a trillion-dollar economy may be facilitated and investors can seize all the business opportunities brought about by the economic transformation China has undergone and is still undergoing.

[1] http://www.tradingeconomics.com/china/gdp

[2] http://www.bloomberg.com/news/articles/2015-06-14/china-s-stock-market-value-exceeds-10-trillion-for-first-time

[3] http://www.export.gov/china/doingbizinchina/index.asp

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