1 Going global: How to succeed in International Business! (29 pages)

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Going Global: How to succeed in international business! 7

participants were speechless. They were positively dumbfounded
when they realized that the Chinese nation, with a population of
1.3 billion, and well on their way to becoming the

world’s leading

economic power, are not going to do us the favor of changing their
culture to accommodate our preferences

!

Asia expert Hanne

Seelmann-Holzmann speaks of a

power shift in the world econo-

my

3

, and the figures speak for themselves.

According to the Financial Times, three of the four leading

global economic powers will be situated in Asia within the next 25
years and three out of four of the

world´s largest banks are al-

ready Chinese

4

. A survey commissioned by the German Chamber

for Commerce in 2010 found that China is the number one country
for foreign investments by large-scale German enterprises (with
1000 employees or more). Medium-sized businesses (with up to
500 employees) rank China as second behind the EU as a desired
location for foreign investment. The rest of Asia ranks fourth and
fifth as an investment target for both large and medium-sized
businesses. This means that 49% of large-scale German firms
and 29% of German medium-sized enterprises plan foreign in-
vestments in China, while respectively 31% and 21% plan to in-
vest in the rest of the Asian market. Thus Asia is the most im-
portant area in which to invest, ahead of North America and East-
ern Europe

5

.

For many German businesses, it is of vital importance to work

successfully with China. According to stock market expert Jim

3

Hanne Seelmann-Holzmann, Cultural Intelligence. Die Erfolgsformel für

Wachstum in einer multipolaren Wirtschaftwelt

4

Cited by Jim Matthewman, The Rise of the Global Nomad. London 2011, p.3.

5

Deutscher Industrie- und Handelskammertag (DIHK), Mid Tier Taken Oppor-

tunities Abroad (2010); Download in internet from
www.dihk.de/ressourcen/downloads/auslandsinvestitionen_10_groessen.pdf

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