Friday, May 22, 2020
Challenges and Advantages of Doing Business in China...
Challenges and Advantages of Doing Business in China With China emerging as a global power in business within the last decade, knowing about doing business in China has become more important than ever. There are both many advantanges and challenges with doing business in China in this modern era, and understanding both sides of this coin is the key to being successful in China. Some aspects to keep in mind include the cultural barrier, the price of the work force in China compared to the United States, and have the â€Å"made in China†brand be accepted back in the United States. The main advantage of doing business in China is the fact that China has emerged as one of the world’s strongest economic forces, driven by the shear number of†¦show more content†¦This is probably the reason that doing business in China is currently so challenging. In addition, there is always the language barrier to overcome as well. Despite the fact that most Chinese are learning English as their second language, there is no doubt that being able to speak Chinese as an American coming to China for business has a huge advantage over the rest of the competition. Another challenge is that despite the ability to manufacture products cheaper in China, there is a flip side to this situation and that is that sometimes, that â€Å"made in America†sign on the back of a product could mean more than the few dollars more it costs to buy that product. Some Americans, in their spirit of patriotism, care more about supporting the American economy than saving a little bit here and there buying products that were manufactured outside of the United States. Balancing the stigma sometimes associated with making a product in a foreign country with the lower costs that usually comes along with that is important in doing business in China as well. As one can see, there is ample opportunity for business in China. 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