Jing Daily Q&A: Helen Wang, Author, "The Chinese Dream"
"The Chinese Dream" is enlightening for anyone interested not only in the economic importance of the Chinese middle class today, but also of this group's cultural and political implications for the China of tomorrow.
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- "The Chinese Dream: The Rise of the World's Largest Middle Class and What It Means to You" (Bestseller Press, 2010, $17, Paperback)
- Jing Daily (JD): In The Chinese Dream , you take a very positive view of China’s expanding middle class. Do you think the emergence of this group could have any negative impact on the global economy? If so, how?
- Helen Wang (HW)
- JD: Capitalism and Communism coexist in China, mainly peacefully in your view. What do you think of recent examples of contention between the two forces, for example the recent luxury advertising ban enacted in Beijing, which is aimed at fighting conspicuous consumption? Will this be an ongoing or intensifying issue?
- HW
- JD: At the moment, most the world sees the China market as an opportunity, something that's particularly true in the luxury realm. How much does the middle class have to do with that?
- HW:
- JD: Last year, we interviewed Handel Jones, author of ChinAmerica , who said that education, health and the Internet are going to be the most lucrative sectors for Western companies to tap the Chinese middle class. Would you agree with this? Are there any other sectors you would add?
- HW:
- JD: What would you say are the key strategies for Western businesses to enter the China market? What about vice versa - what do you think are the major difficulties facing domestic Chinese brands that are aiming to go international?
- HW:
- Study the China market, as China is very different
- Work with local partners or hire local talent
- Adapt your products to Chinese consumers’ taste
- The Chinese Dream is available online in paperback through Amazon.com or in hardcover on Helen Wang's website . Special thanks to Helen Wang and Siva Ho.
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