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4.9j Concluding Remark (Expert Sharing by Mr Denis Depoux, Senior Partner of Roland Berger)

Course video 108 of 110

Foreign firms entering and operating in China are no linger merely "foreign investors" but have become "strategic insiders". Such a shift is a response to cope with with China's shifting environments, and also means China strategy as key to foreign firms' overall global success.This Section provides an overarching picture of the shifts in mindset, status, and post-entry strategies. What are the major shifts in the China context? How do foreign firms shift their dominant mindset and post-entry strategies from foreign entrants to strategic insiders?

This course is designed to help you, as a strategist of a foreign company, better understand how to develop your China strategy. Specifically, after studying China’s changing strategic landscape, you will focus on mastering three strategic issues: who – the major players in China, how – the entry modes, and where – the location strategy for your China business. This course is aimed to deliver updated knowledge and real experiences of developing China strategy.

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Enseigné par

Prof. Xufei Ma
Associate Professor, Director, Center for Entrepreneurship
Dr. Frank Ng
Lecturer

Transcription

I think we hear, these days, a lot of noise about two things.

One is, China is slowing down,

and second, China is now working for China.

I'd like to correct those message..

I think, yes, the GDP growth of China is slowing down.

That's a fact.

Now, you have to consider that what is slowing down is something that has

grown double digits for many, many years.

So the current GDP growth in China, I think for

2015, is said to be 6.9%.

6.9% just to understand what we are talking about is roughly

$800 billion which is the GDP of the Netherlands.

Okay, so Netherlands is a small country.

But still, China is growing by one Netherlands every year, still today,

with this so-called slowing economy.

China is growing by one Germany in five years.

So, China is adding a full German economy and only five years, right?

Could go on and on by taking a variety of smaller European countries.

So that's just the magnitude of the growth.

So I don't think that these figures are important because some provinces are still

growing double digit while some provinces are indeed in trouble and

probably even in recession in some cases.

So what is more important is the transformation of the Chinese economy

towards more domestic consumption and a more service oriented economy.

And it's huge innovation especially culturally more driven which

is really stunning as compared to what we can see in the Western world.

Let's not be confused by this so-called slowing down economy.

Now, to protectionism,

I think we're just seeing something that we've seen elsewhere before.

We are simply at a different stage of development so

as the Chinese economy is moving towards domestic consumption from a position

where it was the factory of the world.

Of course, Chinese companies are gaining momentum while trying to

acquire technology outside to localize it's technology.

This is a very natural movement that has been seen elsewhere.

We've seen that in the US, we've seen that in many European countries.

I have a background in the energy industry,

the nuclear industry in my country, France,

started by acquiring licenses from a US company, namely, Westinghouse Company.

And the first nuclear plants that were built in France were under a license

from Westinghouse, and royalties were paid to Westinghouse's.

At one stage, some of the French technology companies that we're involved

in that process gradually changed the design, localized the design, and

when they decided that this was a French design not an American design anymore.

We're seeing exactly the same thing here.

So it's, of course, in a more open economy.

It's a bit more difficult to swallow for some European or

American companies and governments.

And it is true as well that the World Trade Organization

rules have to be respected by all countries.

But clearly, that maybe sentiment of protectionism has to be well-balanced,

as compared to the bigger picture of the growth of the Chinese economy.

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