The configuration of Global economy has been reshaped as China has increased its economic influence. There are fundamental differences in the logical thought patterns in the people from China and the West.
The Chinese government is driving its massive population and turning it into a modern market-driven economy. It is essential to understand the Chinese demographics while reaching out to prospective and rewarding Chinese markets. The population of China is about 1.3 billion people however 60 percent or 780 million people are rural farmers that are not part of marketing ventures.
In the process, there are various opportunities for every kind of business ranging from multinational corporations (MNC’s) to promising entrepreneurs. It is the belief of the Chinese government that by opening their economy to overseas investors they will make the pathway to modernization more viable for its own people. This will benefit businesses and individuals with unparalleled opportunities.
It is vital for business relationships to grow need to understand all the ‘W’ questions in relation to China, its ways of working, and the reasoning behind it. It is pertinent that businesses understand that even though the Chinese government has welcomed them it will be the local officials that will be involved hands-on and that they need to be dealt with more often than not. Business novice with China must familiarize themselves with the Chinese culture, and the way social rules impact the business practices that they come across.