Tuesday, October 31, 2023

g-f(2)1532 The Changing Global Market: Risks for Western Companies in China

 

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genioux Fact post by Fernando Machuca and Bing Chatbot


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Introduction:


In the rapidly evolving global market, Western companies are at risk of losing the biggest market race of all to China. The era of doing business in China as Western companies once knew it has fundamentally ended. This thought-provoking op-ed explores the changing dynamics of the global market and the challenges that Western companies face in this new landscape.


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genioux GK Nugget:


"The global market race is shifting, with China emerging as a formidable competitor. Western companies, once dominant, now face the risk of losing their foothold. This shift underscores the importance of understanding and adapting to the changing market dynamics in order to stay competitive."



genioux Foundational Fact:


The landscape of global business is undergoing a significant transformation. With China’s rise as a major player, Western companies are at risk of falling behind in the market race. This change necessitates a reevaluation of strategies and a shift towards more sustainable and competitive business models.



10 Most Relevant Genioux Facts:


Lighthouse of the Big Picture of the Digital Age


  1. Western companies are at risk of losing the biggest market race of all to China.
  2. The era of doing business in China as Western companies once knew it has fundamentally ended.
  3. China’s leaders are meeting in Beijing to search for ways to stabilize the country’s current economy while keeping its focus on plans to turn toward a more sustainable and self-reliant growth model.
  4. With the era of blockbuster growth in China and a benign geopolitical environment for Western businesses ending, many foreign companies seem stuck in the past.
  5. There is a long history of CEOs chasing short-term profits, giving precedence to quarterly earnings objectives and share prices, at the cost of establishing a sustainable long-term approach.
  6. In an era defined by profound global transformations, many CEOs continue to let this approach dictate their China strategy.
  7. The risks in today’s environment began to show up as early as 2015, when China’s “major power” rejuvenation strategy began to take shape.
  8. These events forced corporate leaders to consider their overexposure and lack of viable, sustainable, and commercially competitive alternatives to China.
  9. It was only then that some companies began to get serious about supply-chain diversity and geopolitical de-risking.
  10. For many years, the prevailing theory has been that China is too big to ignore and that, at any rate, China would necessarily hew to a pragmatic and prudent policy course so as not to jeopardize its continued access to foreign investment, U.S. capital markets, and foreign innovation and know-how.


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Conclusion


The global market race is undergoing a significant shift with China emerging as a major competitor. As the landscape changes, Western companies must adapt their strategies and business models to stay competitive. The era of short-term profit chasing is giving way to a need for sustainable long-term approaches. As we navigate these profound global transformations, it’s crucial for companies to reassess their strategies and adapt to the changing dynamics.



The GK Article

Dewardric L. McNeal, Western companies are at risk of losing the biggest market race of all to China: Op-ed, CNBC, October 31, 2023.



Dewardric L. McNeal biography


Dewardric L. McNeal is the Managing Director and Senior Policy Analyst at Longview Global, LLC, an international boutique firm that provides strategic guidance, policy analysis, and government relations services¹. He is a former Obama Administration appointee to the U.S. Department of Defense where he served in the Office of the Secretary of Defense for Policy working on East Asia and China security relations with the United States¹². Prior to joining the Obama Administration, he served as the Assistant Director for International Programs at the Brookings Institution’s John L. Thornton China Center¹². He was instrumental in the establishment of the Brookings Institution’s first foreign joint research center, which is located in Beijing at the Tsinghua University’s School of Public Policy¹². After leaving the Obama Administration he joined the senior management team at OIC International, an international development organization with offices and partnerships throughout sub-Saharan Africa¹². As Director of Global Strategy and Policy, he was the principal strategic advisor to the President and Chief Executive Officer at OIC International responsible for the organization’s China engagement and Africa growth strategy and advised the organization on policy and strategic matters¹². His early career included positions as the Special Assistant to the Director of Information at the Taipei Economic and Cultural Office in Los Angeles and as an analyst in the Foreign Affairs, Defense, and Trade Division of the Congressional Research Service (CRS)¹². Dewardric serves on the board of the American Mandarin Society. He has deep knowledge of international affairs, trade and security policy and has an extensive network and relationships in Washington, Beijing, and capitals throughout Asia, Europe, and Africa¹.


Source: Conversation with Bing, 11/1/2023

(1) Dewardric L. McNeal - The National Bureau of Asian Research (NBR). https://www.nbr.org/people/dewardric-mcneal/.

(2) Dewardric L. McNeal - East-West Center. https://www.eastwestcenter.org/sites/default/files/filemanager/Professional_Development/PILP/2021%20NorPac%20Alumni%20Virtual%20Summit/Dewardric%20McNeal%20-%20Bio.pdf.

(3) Longview Global, LLC. http://www.longviewgllc.com/.



This genioux Fact is classified as Breaking Knowledge that means: Insights for comprehending the forces molding our world and making sense of news and trends.


Type: Breaking Knowledge, Free Speech



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Reference


genioux facts”: The online program on "MASTERING THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)1532, Fernando Machuca and Bing ChatbotOctober 31, 2023, Genioux.com Corporation.



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