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Cutting Loose:
Some precautions to take when terminating disloyal personnel.
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Recipe for classic Mexican relief from summer - watermelon water.
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In this edition of VantagePoints, we present the second in our two-part series on China. This month we discuss opportunities and challenges of owning and/or operating a business in China.
China is the world's economic success story, having gone from isolation and destitution, to extroversion and prosperity in less than a generation. Those bold and adventurous enough to "Enter the Dragon" can realize great reward - if they maintain proper preparation.
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J.R.Skaggs
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Enter the Dragon Part Two: Challenges of doing business in China
 If you own or manage a U.S. corporation with plans to expand operations globally, at some point you will undoubtedly face the prospect of doing business inside China. This is almost inevitable. With the world's fastest-growing economy, this 5000-year-old society's growing consumer class increasingly follows Western trends and demands Western products and services.
When contemplating a business venture in China, some interesting facts to consider are:
- The current population of China is 1,415,201,432 as of Thursday, July 12, 2018, based on the latest United Nations estimates.
- China population is equivalent to 18.54% of the total world population.
- China ranks number 1 in the list of countries, by population.
- The population density in China is 390 people per square mile.
- The total land area is 3,624,807 square miles.
- 59.3 % of the population is urban (838,818,387 people in 2018), compared with 49.2% in 2010 and 35.8% in 2000.
- The median age in China is 37.3 years.[1]
Comparing these numbers with those of the United States puts into perspective the enormous opportunity for those who opt to enter the Chinese market.
- The current population of the United States of America is 326,827,894 as of Thursday, July 12, 2018, based on the latest United Nations estimates.
- The United States population is equivalent to 4.28% of the total world population.
- The U.S.A. ranks number 3 in the list of countries, by population.
- The population density in the United States is 93 people per square mile.
- The total land area is 3,531,837 square miles.
- 83.7 % of the population is urban (273,368,693 people in 2018), compared with 81.7% in 2010 and 79.8% in 2000.
- The median age in the United States is 37.8 years.[2]
In other words, with roughly the same land area, China has more than four times as many people and its urbanization rate is six times that of the U.S. since 2010. Add to this the fact that China now trails only the U.S. in the number of billionaires. In 2017, there were 563 American billionaires, while China counted 318.[3]
Mainland Chinese dollar billionaires are ... Read More
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