China may still have a Communist political system, but its economy is transitioning to capitalism. It has a growing middle class hungry to buy Western goods.
But it’s a study in contrasts. For instance, China is home to the world’s largest shopping mall. Too bad that shopping mall is nearly empty with only about a dozen stores occupied out of 1,500.
That shopping mall is a pronounced example of what could happen if, lured by large numbers, you fail to research your market thoroughly. Because for as advanced as certain cities may be, other parts of China are still rural and poor.
Over at the OPEN Forum site this week I write about the opportunities presented by China. Enterprising U.S. companies are investigating and some are capitalizing on the opportunities China presents. Just don’t forget to do your homework before you expand. For some excellent resources to research China as a market — read: China: A Ripe Market or Fast Track to Bankruptcy?