China is in the midst of its second economic revolution and there seems to be no turning back. Reforms during the first economic revolution of the '70s and '80s reversed decades of state-controlled economic policies; the second one has created world-class Chinese businesses and raised expectations of widespread prosperity among China's people.
China: Beyond the Point of No Returns
One topic that drew particular attention at the 34th annual meeting of the World Economic Forum was China. Executives appreciated that China presents real opportunities for businesses. But many at the McKinsey seminar also wanted answers to practical questions about entering the market.
McKinsey Quarterly, 2003 Number 4 Global directions For ambitious Chinese companies, we suggest two models that can deliver market entry in ways that keep costs under control and offer controlled opportunities to learn about developed markets.
McKinsey Quarterly, 2003 Number 3 Zhang Ruimin, CEO of the Haier Group – the Chinese company that is the world's fifth-biggest maker of white goods – describes his plan to create a global brand.
