This week, CNNMoney is running a series of articles about China. I was interviewed on the topic of China’s growing middle class.
It’s mind-boggling for Americans to think that China’s middle class is already largest than the entire population of the United States. Yet, the Chinese middle class is only about 25 percent of China’s population. The explosion of the middle class is a result of China’s phenomenal growth in the past decades. As China’s economy slowing down, the Chinese middle class will face some challenges climbing up the economic ladder. My friend Shaun Rein, the author of The End of Cheap China, pointed out that foreign companies need to have a long term view in betting on Chinese consumers. I totally agree.
It is a good thing that mainstream media has started to pay more attention to China. I look forward to seeing more coverage about China on CNN.
In this three minute vedio, Stephen Roach, a professor at Yale University and former nonexecutive chairman of Morgan Stanley Asia, summarized one of the key points of my book The Chinese Dream:
China is well on its way to “create a consumption dynamic that will outstrip the growth of any consumer market in the world,” how the U. S. should embrace the opportunity, and why improving the China–US bilateral relationship is so critical for the economic future of both countries.
Recently, I participated in an International Speech Contest at a Toastmasters Club. Although I didn’t win the contest, it was a great experience. Below is a video of the speech:
Please post your comments and feedback in the comment area below. All are welcome!
I will be speaking at Bay Area Council in San Francisco on March 22, at their luncheon series “How to Do Business in China.” See the details below:
The Bay Area Council is a business-sponsored, public policy advocacy organization for San Francisco Bay Area. Founded in 1945, the Bay Area Council has more than 275 of the largest employers in the region and is widely respected by elected officials, policy makers and other civic leaders as the regional voice of business in the Bay Area.
Please join me:
When: 12:00pm – 1:00pm, March 22, 2012
Where: Nixon Peabody LLP, One Embarcadero, 18th Floor, San Francisco, CA
