China Now!

A copy from my journal in Facebook: --

It was about 10 years ago in March 1998 that I packed my bags and traveled 1st time to China after a stay of almost two years in Brussels. I was fortunate to have an exceptional education - in Vrije Universiteit Brussels and then at University of Chicago (1999). When I went to the US, my father had only one thing to say to me: "I grew up with hard working environment. If I could come back then, you have no reason to stay there any longer than necessary". For me, the decision to return and staying to Asia was made before I left.

China has been the flavour of the year internationally in 2007 and that looks likely to continue in 2008 forward. The past year has seen very favourable write-ups in many international publications. Outsourcing to China companies continues to grow rapidly - in software and other areas. Many companies are expanding their presence in China. China companies themselves are looking to grow globally. The China stock market performed spectacularly (before global impact recently).

Almost every investor and senior executive has started to think about China. For some, it is about leveraging China's cheaper skilled labor. For some others, it is about capitalising on China's growing domestic consumption. And for investors, it is about China's attractive returns on investments (still).

Whether it be the steady stream of investment announcements in China as companies grow their operations or the flow of visitors seeking to "discover the new China", there is now little doubt that China is starting to get factored into the plans that companies are making. The outsourcing and services story is well-known. But as incomes start to rise (and salaries are indeed rising rapidly in the white-collar sector), domestic consumption is starting to take off. (These two factors are the principal drivers behind the real estate boom in China big cities)

This is a journey which needs many travellers - explorers, astronomers, scientists, financiers, engineers, economists, and others. Some will make it to the finishing line, others won't. The joy for everyone has to be in the journey.

China is the flavour of the day. But we need to make it more than that. China needs a few decades of sustained development to make up for all the lost time. We have the world's biggest population. If we are not to disappoint and lose this generation, we need to work on building the China of tomorrow. We may not be easily able to change our politicians and policies, but I firmly believe that we can use our innovation and entrepreneurial abilities to bring about change. We have to do this not between two generation, but between two elections. The China Rising story needs to not become a chapter but a book.

There are many opportunities - to both catalyse (do good) and capitalise (do well) on China's development. The road ahead does not have any maps. Instead, all we have is a compass. There are slippery rocks. And as we navigate through, we have to, in the words, "like the feeling to be a China-man"

Next Question: Can I?