Since China’s economic reform programs began, its rapid economic growth has lifted over five hundred million people out of poverty. This accomplishment has been achieved at the price of great risk to national and regional environmental stability threatening the well-being of those living in damaged areas. While China has some of the most stringent and progressive environmental legislation in the world, their effectiveness is hampered by lax enforcement. Professor Hardiman highlights the challenges and opportunities for China as it faces the economic-environmental conundrum
Adaptation is the key to success in China. Taking a trusted business strategy from the old-world and copy/pasting it into China would be like taking a dinosaur to a horse race. When entering the China market, Victor Wong recommends that companies “assume they’re going to Mars” and develop completely new tactics and strategies if they expect to survive in China's competitive and constantly evolving market. He focuses on the value of talent, and describes how he prefers building a small, high performance team rather than an army of hundreds.
Mr. Wong discusses future trends which will affect China's IT/Software development industries, such as the dominance of India in the global software outsourcing industry and their advantage over Chinese counterparts. With both countries graduating more engineers every year, the battle for IT supremacy looks to be heating up. He also mentions the advent of non-Latin script domain names and cyber-warfare.
Mr. Sullivan discusses how trends such as growing engineering talent pools, expanding user bases, increased cross-strait cooperation and the development of high speed wireless networks by all major carriers in China present unique opportunities and threats for foreign and local solution providers in the Technology, Media and Telecommunications (TMT) space.
Calvin discusses differences between the business environments in the US and China as they relate to tech startups. He argues that even though Qifang had a long development period compared to a similar venture in the US, this delay allowed him and his partners an opportunity to learn more about the community and the customers they would be serving before launch. This extended “learning period” also uncovered advantages such as a flexible regulatory environment when it comes to social entrepreneurship in China.