The challenges to expanding globally are vast, but so are opportunities for those who learn to operate in this new global world
Recently I have been seeing more and more headlines heralding the end of what might be called “cheap China” — an increase in labor costs that is going to be felt throughout most outsourced manufacturing. I think that categorizing this as an “end” is a misnomer; really, what we are seeing is a transformation. China and other emerging markets are transforming from being producers of goods into consumers, presenting Western retailers and brands with an emerging consumer base that numbers in the billions.
[This article has been reproduced with permission from Knowledge Network, the online thought leadership platform for Thunderbird School of Global Management https://thunderbird.asu.edu/knowledge-network/]