The debate on whether China is the land for great opp0rtunities for foreigners, or the place they increasingly leave behind, made it into the state-owned Global Times. Long-term Beijing resident and economic analyst Arthur Kroeber still see why the country attracts foreign entrepreneurs.
The Global Times:
If Westerners who came to China in the first 10 years, after the country opened up in the late 1970s, were mostly in search of adventure, there is a new element accounting for China’s appeal today.
“Many foreigners started to see China as a great place for business opportunities when lots of industries in the West were already over-mature without much options, while in China, opportunities are still wide open,” said Arthur Kroeber, managing director of Chinese economics research firm GK Dragonomics.
Kroeber sees China as particularly appealing for young people with an entrepreneurial bent. “Even without necessarily having genius ideas, you can set up companies and become very successful,” said Kroeber from the US.
In Kroeber’s view, the fact that the Chinese economy is still growing at 7-8 percent a year means that the country will remain as a safe harbor in the global economy.
But another factor has remained of great interest. “It’s the sense of things changing in a very fast way that makes many stay longer, the variety of changes and new inspirations all help to create a very intellectually stimulating environment in China,” Kroeber added.
In the first China Weekly Hangout the debate on why foreigners are leaving China was addressed by Andrew Hupert and Richard Brubaker.
- Burberry runs out of steam – Paul French (chinaspeakersbureau.info)
- The End of Cheap China – Reuters’ review (chinaherald.net)
- China’s brain drain to the US – Bill Dodson (chinaherald.net)
- The changing Chinese preferences for luxury goods – Shaun Rein (chinaspeakersbureau.info)
- China’s savings, not banking products, caused the financial crisis – Heleen Mees (chinaherald.net)