November 7, 2006
Jack Covert Selects: China
The winner of the 2006 Financial Times/Goldman Sachs Business Book of the year award was China Shakes the World by James Kynge. I want to give you a little taste of the book before I finish it and write a Jack Covert Selects review. In the chapter called The Population Paradox Kynge talks about the lure of the huge population of new consumers waiting for our consumer goods. He states:
But if foreign businessmen arrive in China transfixed by size and scale, many of them depart haunted by the concept of share. They envisage being able to sell their products to a multitude of Chinese and then watch as the hoped-for multitude is sliced and diced into morsels. Only certain sections of society are willing buyers of most products, and reaching them is made difficult by layers of local protectionism. When a market is finally found, aggressive domestic competitors have usually got there first. The fabled billion-person market is frequently reduced to a fraction in the figment of a dream.Interesting.