[Institute’s name]
BCED 4670/5670-001
General Topic
Seay, Brent A. (2012). Challenges and Rewards of doing Business in China. Retail Property Insights, 18(3), 51-54. Retrieved from http://connection.ebscohost.com/c/articles/77870082/challenges-rewards-doing-business-china
MAIN POINTS
In this article, Seay begins with an anecdote summarizing the change he witnessed on his second visit to China. This sets the context for the discussion of the progress made by China in leaps and bounds. The urban population of China grew by about 209.7 million from the year 2000 to 2010. This increase is more than the increase seen during the European Industrial Revolution. This increase was accommodated by a huge investment in infrastructure, and a huge amount of funds has been allocated for similar development in the next five years. However, while growth is expected in the future also, there are some key points that need to be considered before doing business in China. Obtaining updated statistics, recruiting suitable people, maintaining good associations with the government and incorporating flexibility in the business are the key points.
China has also announced the 12th Five Year Plan according to which China will soon become an economy that consumes what it produces, instead of being driven by exports. This is primarily the reason why the future of retail businesses is bright in China, provided they adopt the right strategies.
READER REACTION
This article summarizes the prospects of doing business in China in the next few years. I agree with the content because the writer has used statistics to substantiate claims. Also, the writer has included statements by business giants like Wal-Mart. This information can be used as the basis to acquire more knowledge about the Chinese business world in order to set foot in it in the right place, at the right time, and for the right purpose.
