Misperceptions about China are very wide-ranging. Quite a lot of them are industry-specific or situation-specific.
I would say China is a huge country and economy, which includes the Greater China region, Taiwan, Singapore and other Chinese speaking markets. People can get a little too focused on cultural things.
We know a few Western brands that came to China and would say they overlocalized; they didn’t use their strengths as a Western brand; didn’t use those perceptions with the consumer to their benefit.
Others will say they didn’t localize enough.
So if you talk to a hundred people you’ll get a hundred answers.
I’m growing to feel that timing is key.
China tends to do what it says.
If you listen to the excerpts from the Five Year Plan or what the leaders are saying, they do tell you what industries or foci there will be.
Listening to their economic plans makes a lot of sense. They do what they say they’re going to do.
Right now, I think the Silk Road is an exciting project and anyone in the infrastructure space should be jumping on that as an opportunity.
Edward Holroyd Pearce is Co-Founder of CRCC Asia