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At the launch of her book ‘Dancing with the Dragon’, Dr Mona Chung, Cross Culture International and Deakin University, presented on a number of topics regarding the current state of China.
She began by discussing the country as an emerging super power. Goldman Sachs have predicted that China will overtake the US as the world’s largest economy in 2027. It is already the world’s largest trading nation and has experienced consistent, rapid GDP growth for over twenty years. This economic growth is now normalising as China shifts to an emphasis on consumption. This presents a number of opportunities for Australia, particularly surrounding food trade, Chinese investment, as well as education, tourism and migration.
Despite the positive prospects that China presents for Australian businesses, it is important to be aware of the nature of China in terms of its economic and political structure. Dr Chung’s presentation continued with an exploration of contemporary business cases, highlighting commonalities and differences in how various businesses approach working with Chinese markets and consumers.
The event concluded with a discussion of how to overcome misunderstandings with China in business dealings, followed by an interactive Q&A session. We would like to extend our thanks to Hall & Wilcox for generously hosting the event. We also thank Mona for her time and expertise, as well as to all those who attended.