For those of us interested in business, it’s important to familiarize ourselves with the increasingly global and interconnected economy we live in. While the United States will surely maintain its status as one of the world’s economic leaders, China’s rapid growth is both impressive and respected by countries around the world as well.
By 2015, China is expected to surpass the United States in total built assets; claiming number one in the world with over $40 trillion dollars in built assets. While such assets do not translate directly into economic strength and stability, infrastructure investments do pave the way for further investment and economic growth.
At present, over 1,500 major U.S. companies do business with China; a number that is expected to grow well into the future. While U.S.-based investment in China has increased in recent years, so has Chinese foreign investment globally.
Chinese firms continue to acquire foreign companies while investing large sums of capital in others.
In China, over 300 million people are learning to become proficient in English. On the flip side, it’s estimated that only about 60 thousand Americans are learning Mandarin. The contrast between the numbers is quite alarming and highlights reasons why learning Mandarin is an asset to those that can do so effectively.
More than just language, a major cultural gap exists as well between China and countries around the world. In order to be cross-culturally successful in the Chinese business space, individuals must learn how to respect, appreciate and ultimately immerse themselves in the Chinese culture. Chinese-based companies are continuously looking for foreign talent to incorporate into the private sector.
In the years to come, it is widely accepted that China’s economic, political and cultural force will play an ever more important role in the global economy;
…you definitely don’t want to miss the train!
Author Bio: Daniel Black graduated from Claremont McKenna College in 2011 and serves as an education outreach advisor for ClassesandCareers.com.
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Study Up ^_^