President Xi Jinping is reinventing state capitalism and has a new economic agenda: “Dual Circulation”. What does it mean for international trade and will it be successful?
A Balancing Act
China’s economy today is driven more by domestic consumption than exports. To what extent are exports still vital to China’s growth? China’s phenomenal growth and rising prosperity over the past four decades was kickstarted by export manufacturing. This remains a crucial part of the economy even though domestic demand is becoming ever more important. But […]
Why Chinese Consumers are Leaving Multinational Brands on the Shelf
More domestic brands appearing on store shelves may indicate that the golden days for foreign brands are slipping away. “Made in China” was once considered a sign of cheapness and low-quality, but the belief now has changed. Chinese consumers now think that Chinese brands are equal to, or even exceed, foreign brands. As buyer confidence grows and domestic quality improves, what can multinational brands do to regain ascendancy?
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