The roaring Chinese economy has many Western executives focused on how to use this region to improve their global manufacturing and supply chain operations, and expand their footprint in the dynamic Asian market. But this allure has been tempered by headlines of dramatic Chinese wage increases other factors that can erode the bottom line. Although these issues have some validity they don’t provide a complete picture of China’s business climate, such as the country’s natural resources, skilled labor and infrastructure relative to other low cost countries (LCCs).
L.E.K. Consulting believes that there are still advantages to using China as a component of your manufacturing strategy to reach consumers in this growing country, throughout Asia and globally. To that end, we have outlined six important insights to help corporate leaders gain a better understanding of opportunities in China – and in some cases, dispel misperceptions about doing business in this country.