The End of Copycat China: The Rise of Creativity, Innovation, and Individualism in Asia
China's changing course, and sustainable success requires a shift in strategy
The End of Copycat China helps business executives and investors understand how China's economy is shifting from one based on heavy investment to one on services and consumption by providing insight that help shape effective strategy. Drawing from over 50,000 interviews with entrepreneurs, venture capitalists, private equity investors, private Chinese companies, and multinationals, this book describes how Chinese firms are increasingly focused on innovation rather than copying what worked in America and how consumers are evolving with their hopes, dreams and aspirations. China's growth model of the last three decades is becoming increasingly ineffective, as relying on heavy investment and exports is becoming less and less feasible. Fifty percent of China's growth in 2013 stemmed from consumption, the government is establishing a Free Trade zone in Shanghai and ending the dominance of state-owned enterprises. This book provides a roadmap for companies and investors looking to navigate these changes and capture emerging trends, with deep insight and practical guidance on what innovation looks like in the new China.
- Survey the development of innovation taking place in China's economy, from an insider's perspective
- Consider the changes that must take place to shore up the broken growth model
- Examine the consumer trends emerging in the midst of rapid market evolution
- Understand how China's rise will impact its neighbors like Japan, Vietnam, Indonesia, and Cambodia
China's dramatic shift toward consumption presents a tremendous opportunity for foreign business, but traditional tactics are outdated at best, financially fatal at worst, as local competitors focus on innovation and move up the value chain and as consumers look for new brands and categories to spend money on. New strategies are needed to keep pace with the changing regulatory and consumer environments, and "business as usual" won't get very far. The End of Copycat China is the business guide to this emerging market, with expert guidance from the inside.
said that they told him that a Chinese friend had gotten them hooked on WeChat and that they were now regular users. I have heard similar stories when visiting Indonesia and even South Africa—Chinese introduced WeChat to foreign friends, who then started using the service among themselves. Another example of Chinese companies becoming global players would be Wei's investment in JNBY, a leading designer apparel brand. Originally focused on China, Wei tells me, the brand is now selling in Galeries
critical for brands to adjust to the changes. It is also important for human resource departments to create policies dealing with pollution because of the effect on recruitment and employee retention. Mr. Ma should be a happy man. He has what he calls his dream job, running the Chinese operations for one of the world's largest companies in the technology sector. Born in Taiwan, Ma received a master of business administration degree at the University of Chicago and joined his current company in
Chair of JUCCCE Peggy Liu is the chair of Joint United States–China Cooperation on Clean Energy (JUCCCE), a nonprofit that seeks to catalyze transformative change in the green movement of China by convening coalitions of cross-border and cross-sector influencers around precise collaborative action that triggers tipping points in sustainable energy, urbanization, and consumption. A graduate of Massachusetts Institute of Technology (MIT), Liu is an executive advisor to Marks & Spencer, as well as
brands from big fashion houses. Some spending by wealthy Chinese is going offshore, often through somewhat dubious means in Macau by falsely buying products via UnionPay, a domestic Chinese bank card organization that competes with Visa and Mastercard. Consumers buy products via UnionPay, then return items less a commission to get around convertibility limits. For instance, they might buy a $200,000 watch with their UnionPay card, then return it for $190,000 in cash while the store pockets a 5
relative ease, their expectation and perception of the brand if not ideally enhanced should at least be sustained along the way if not ideally enhanced. We fully recognize this reasonable expectation placed on us by our loyal consumers and have implemented strategies such as the rapid expansion of our own global retail network have given us to control the experience our consumers receive when entering one of our stores, be it in Shanghai, Hong Kong, or Paris. Global standards in product