China is the main source of cheap labor for companies in the first world countries, but cheap Chinese labor is disappearing. Rising costs for labor and real estate leads to the fact that production moves to another location. The Chinese have become consumers, which creates opportunities for experienced foreign marketers. At the end of cheap China, Sean Rhine was born and educated in the United States, but now lives and works in China, tells jokes from his personal and professional experience to illustrate the current cultural, political and economic conditions in China. Rein emphasizes the importance of understanding Chinese consumers and provides marketing recommendations for businessmen who are interested in making a profit from China’s new and growing consumer classes. He also discusses political and social changes and their international implications, and also reflects on the future.
• The era of China as a source of cheap labor is coming to an end. Strong wages are rising, as is the cost of space. Production is shifting to other countries.
• China is gradually becoming a nation of consumers. Western companies can sell to the Chinese people in various ways, but they need to understand how marketing for them differs from marketing for Western people. Companies need to learn how to satisfy Chinese tastes. Chinese consumers are willing to pay more for safer products.
• In China, there is now a large class of super-rich people. They crave western luxury products and status symbols. They represent an exceptional market for some American companies. Rich young Chinese women are a particularly desirable target market.
• China's growth creates global shifts in brand domination and survival. While America now supplies most of its agricultural products in China, Chinese brands like Lenovo are becoming popular in America.
• The Chinese government is most concerned about stability and the economy, and not the spread of its ideology or imperialism. To maintain stability, it must address basic internal problems, such as food safety; inaccessible health care; political corruption; inhuman living conditions and the lack of affordable housing; and erroneous education system.
At the end of cheap China, Sean Rhine offers a unique perspective as a businessman who lived and worked in China. The main section of each chapter is a long anecdote or a collection of anecdotes describing the past and present of China and where it can be headed; At the end of each chapter, marketing recommendations are offered in the side panels. The Chinese market and how it differs from Western markets is a central theme. The book will be interesting for businessmen who want to know how to do business in China and how to sell to the Chinese. This will also be of general interest to readers who want to learn about the evolution of China. Content is divided into topics that can be read in any order.
