With debts at local-government level mounting, China has to curb easy credit and open up the financial services sector to private and foreign enterprises, says S. P. Kothari, deputy dean of Sloan School of Management under the Massachusetts Institute of Technology.
Olivier Fleurot has always been open to change. Trained as an engineer, he ended up managing newspapers and is now developing a global public relations network.
China's economic expansion and emergence on to the world scene has been the most important development since the end of the Cold War, leading some commentators to conclude that the 21st century belongs to the People's Republic or, simply, that China will rule the world.
Elevator and escalator manufacturers ride high on the back of China's urbanization
With safety as its top priority, The Otis Elevator Co, one of the largest elevator and escalator producers in the world in terms of sales volume, is planning to increase investment in maintenance and repair by 30 percent in China.
In his well-known book, When China Rules the World: The End of the Western World and the Birth of a New Global Order, Martin Jacques claims China's impact on the world will be profound and, in the long term, China will seek "to transform that system while at the same time, in effect, sponsoring a new China-centric international system which will exist alongside the present system and probably slowly begin to usurp it".
Chinese purchase of British firm built on respect and mutual trust, says UK MD
The clinking of cups and saucers also means the jingling of coins in pockets
Globalization is flowing from the rest to the West so the West will have to adapt
When the Politburo makes a pledge, no one can have any doubt that it means business. Capital markets have reacted positively since the Politburo meeting at the end of last month, chaired by President Xi Jinping, said China would maintain its economic growth over the second half of the year to achieve its annual target of 7.5 percent from last year.
Despite the recent slowdown in China's economy, many foreign companies continue to see the world's second-largest economy as one of the most attractive markets now and in the future. Consumption of foreign brands by the Chinese contributes considerably to the profits of many foreign companies, especially luxury brand producers. But do foreign companies and their marketing teams really understand the changing nature of China's customer base?
After a four-year battle, a Chinese company recently prevailed over a noted French vintner to win the largest trademark lawsuit in the wine industry to date.
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