Internet helps to save time with a high return on investment. Buying from a mobile and being delivered where you want is time and money saving. Following a study, 75% of the Chinese population that browses on internet, does it on a mobile phone. The other conclusion of the study is that there is an overlap between the population that uses internet and social media and the consumers with purchasing power. With the most Internet users in the world, China has the world’s largest and fastest-growing social networks and e-commerce platforms.
What if the future of modern trade is already in China?
According to PwC Economic Quarterly Q1 2017, the national online retail sales of goods and services in China reached 1.4 trillion Yuan in the first quarter, 32,1% higher than in Q1 2016. In comparison, retail sales of the physical stores went up by 7.2% only. In many countries where one does not have often a say, online consumers have a say on social networks and can chat with each other and share experiences.
Giving feedback on products, services and brands, and their validation through ratings are a form of power that consumers have. This gives trust, transparency, security, that institutions cannot always offer. Health care requires this trust, transparency and security. A McKinsey survey in 2017 showed that 65 % of online shoppers in China are seeking ways to lead a healthier lifestyle.
E-commerce market in China
Next to being the largest e-commerce market, China is also the most innovative e-commerce in the world. Innovations such as mobile digital payment ecosystems, virtual reality are probably key reasons for the rise of e-retail spending. It seems that this offers availability and value to customers even in rural markets. Incorporating digital payments into existing services will open up new markets for micro, small, and medium enterprises and transform the way people transact around the world, including developing countries. Innovative business models are required for e-commerce in area where mobile digital payment ecosystems are not yet possible. Source:
China is today, overall, an intermediate country, far from extreme poverty. Its HDI (0.745) places it 94th in the world (out of 177 countries). Its PPP GDP stands at $4,580 per capita, with constant progress. Such figures, however, are only averages: for the rural population, they are very much lower. In some respects, China in the 2000s remains a poor country.
Over the past twenty years, however, China has been progressing very rapidly. It is even the country in the world with the strongest economic growth. The GDP thus grew by 8.2% per year between 1975 and 2002 and by 8.6% per year between 1990 and 2002, a multiplication of 2.5 in 12 years, by almost 8 in 27 years! No other country can boast of such economic development which has placed the republic on the path which today makes it the second power in the world.
Over the past two decades, China has become a manufacturing hub and the world’s largest exporter of goods, transforming from an emerging economy to an economic superpower.
According to the latest estimates of the economic outlook for IMF, the country will represent 18.8% of global GDP at purchasing power parity (PPP) this year. A figure up by more than 10 percentage points compared to the early 2000s, when the United States and the European Union were still far ahead in terms of economic production.
Over the past twenty years, the United States and major European economies have seen their superiority challenged by the emergence of new powers, such as China, India, and other countries. While the United States saw its share of global GDP decline from 19.8% to 15.8% between 2002 and 2022, that of the European Union fell from 19.9% to 14.8% over the same period (keeping in mind that the United Kingdom’s exit from the EU also contributed to this decline).
The gap between China, the United States, and the EU is likely to widen in the coming years, as the outlook is rather bleak for the latter two economies, which are at risk of entering a recession, while the Chinese economy should be able to continue to post single-digit growth rates (close to 5%).
China is working on establishing all these milestones and beyond.
Battling China is the reward given to China as recognition of its outstanding performances realized during just 5 presidents du Developpement Global de la Chine – 4 Leaders Pieds de la Table de Jeu Technologique de la Chine and 50 years of hard work and devotion to national development policies and goals.
Said EL Mansour Cherkaoui et la Chine – Mars 21, 2021
New Face of China Giant panda startle and paper tiger awakening – September 29, 2021
Dr. Said El Mansour Cherkaoui
saidcherkaoui@triconsultingkyoto.com – https://triconsultingkyoto.com
China’s Rise to Economic Preeminence
As the world economy continues to grapple with supply chain issues (in part) caused by the “zero Covid” health policy and lockdowns in China. It has become sadly clear just how bad the global economy is vulnerable to regional disruptions, especially if they occur in China, the largest supplier of goods on the planet.
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The first step is to clearly define the problem you are facing and its root causes. You can use tools like the 5 Whys, the Fishbone Diagram, or the Problem Statement to help you ask the right questions and narrow down the problem. Gather relevant data and information to support your problem definition and avoid assumptions or biases.
Solution: Brainstorming sessions to explore various possibilities, allowing to gain insights from diverse perspectives. To answer the "WHY," with the DVF Theory:
Desirability: Do we have an audience with a genuine need for our solution to address their problems? Viability: Is our solution sustainable over the long term?
Viability: (Is it sustainable long-term?), and scalability (Can it grow or adapt?).
Feasibility: Can the solution be practically implemented? Once we decode these elements, we can be confident that our business will thrive in a competitive market. With this clarity, we can then focus on how to scale the business by developing proper strategies and executing them effectively.
The proposed solutions must be measurable and not vague. Clearly defining the objectives that need to be achieved by the end of the resolution process is key to navigating and overcoming the problem.
Test and validate solutions with customers, stakeholders, and experts. Use tools like the MVP, the Experiment Canvas, or the Feedback Loop to design and conduct experiments and collect feedback. Experience indeed plays a significant role in shaping effective solutions.
Implement and monitor solutions and track their impact and performance. Use tools like the Action Plan, the Gantt Chart, or the OKR to plan and execute solutions and assign roles and responsibilities. Use tools like the KPI, Dashboard, or Balanced Scorecard to monitor and report progress and outcomes.
Entrepreneurial problems are not static but dynamic and complex. Adapt and improve the solutions and learn from experience and feedback. Use tools like the PDCA, Pivot, or Iteration to review and refine solutions and make changes as needed.
Entrepreneurship is perpetual adaptation: adaptable, innovative, and responsive.
Entrepreneurship Communities: Colleagues or friends are great resources for discovering new technologies and best practices: tools or methodologies, and what changes to foresee in the industry. This peer-to-peer offers practical insights and helps navigate the ever-changing landscape of technology.
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