For more than two decades now, the Western world has been marvelling both at the speed at which China has been catching up and at the impressive rate at which its economy is growing. China is now the world’s fourth largest economy – and has been hit hard by the current financial and economic crisis as a result. For a long time the government has been afraid that the world’s workbench – from an economic perspective – is unstable, a fear that is now proving to be justified.
But at least things are looking up on one front! Lately, Chinese and foreign companies have stopped complaining how difficult it is to find and keep good staff. The massive salary hikes have also come to a halt for the time being. Chambers of commerce have now started offering courses on dismissal – a whole new issue for China. An article I wrote on this subject has just been published in Asia Bridge.
But today I want to talk about something else; in spite of the extensive coverage during and after the Olympic Games 2008 in Beijing, our perception of China still largely lags behind reality. In numerous workshops and coachings, I am met by a distrust of this communist country. People tend to forget that the Chinese have always lived their lives in line with the principle of opposites – yin and yang. Communist political structures thrive alongside unlimited capitalism. Nowadays, China has usurped the USA as the “land of unlimited opportunities”. The speed at which society is changing within itself is breathtaking.
Who wants to be a millionaire?
China has long since stopped looking up to the Western world; it is now developing its own, new identity. Today’s Chinese are self-confident in business, increasingly proud of their country, and ever more able to voice their opinions freely. The younger generation especially – those born in the 1980s and 1990s – wants to play an active role in shaping their lives and to take advantage of all the economic opportunities on offer. This applies especially to Chinese men who have to compete for the favour of a Chinese woman.
The “new China” is having an impact on the labour market and business culture in China, but also on the choice of employer and individual career plans. The older generation demands different HR concepts to the younger generation. I can and must approach a young, Western-oriented business partner quite differently than someone who primarily moves in a purely Chinese environment. Taking a closer look at Chinese culture is well worth the effort! I have been delving into it with a passion since 1986!
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