Does China Business Have a New Strategy and How Does That Affect You? (Part 2)
Does China Business Have a New Strategy and How Does That Affect You? (Part 1)
China Business Is Different From Other Emerging Country Peers
An Indian politician and economist has coined the term ‘Chindia’ to present his country and China as a blend. Other hopefuls use the acronym ‘BRIC’ to represent the phenomenon of Brazil, Russia, India, and China. Each of these countries is an influential world player of the future. It is attractive to think of emerging economies as a single block. This could mislead strategy making, because China business is more different than similar to its peers in a new world order.
Governance in Russia is the same as in China in some respects. However, Beijing has not followed the Moscow pattern of incarcerating large industrial interests. Russia does not own famous western brand names. It is not a significant supplier to US and EU corporations. It does not have decisive amounts of dollars and Euros. Brazil and India follow economic development policies entirely different from the China business path. The industrial house of Tata has bid to buy obsolete luxury brands from Ford. It has also purchased one of the most cost-inefficient steel producers in the world. China business has, on the other hand, been reluctant to offer cash to Citibank and other tempting requests for hand-outs. The world must find new ways to deal with the evolved face of China business!
Best Practices in Dealing with a New China Business Persona
African dictators are unlikely sources for building a new template to deal with China business. However, the axis has grown at such speed that it deserves an objective look. Australia has also made impressive progress in building durable and mutually profitable links with China business. Perhaps you would like to sell products and services to China, or to buy from them. You may live in a neighboring territory, or be a citizen from a largely adversarial country. Here is a first attempt at some guidelines for forging a working relationship with the changed nature of China business:
1. Use the Adult-Adult phase of Transactional Analysis. Translated in to common English from the jargon of psychologists, this means treat all China business stakeholders as rational and respectable adults, and behave as a reasonable entity as well. Never disgrace your China business partners in public. Do not lose decorum. Present your perspective with facts and persistence. Work on your Emotional Intelligence, never mixing ideology or culture with business.
2. Keep the long term in view. Try Puerto Rico or a Middle East Sheikh instead of China business, if you want to make a quick killing! Go the extra mile to establish your credentials. Try and foresee the future implications of proposals from the China business side of a table. Hone your negotiation skills and buttress them with loads of patience. Practice Reflective Listening, taking lessons from a professional counselor if you have never heard of the procedure. Study Confucius and Mao, taking care to apply their directions to your thinking and conduct.