Expand into Asia

  • Expand to Asia – Description

    Why expand into Asia?

    • In 2009, total car sales in China overtook those of the US
    • According to Goldman-Sachs, China will overtake the US as the world’s largest economy by 2027. This is not considering the possible revaluation of the currency (RMB) which, if it happens, will accelerate the process.
    • Jim O’Neill, the author of this prediction, forecasts China growth in 2010 at 11.9%
    • HSBC has decided to move its CEO from London to Hong Kong
    • Asia has great diversity and vitality
    • India and China adds 100 million more people to the middle class every year
  • Many western firms fail in Asia because conditions are very different.

    These represent the cultural barrier. Guanxi describes the basic dynamic in personalized networks of influence as a central idea in Chinese society. The need for local partners is based on the  time factor, rituals, trust and hierarchy. It is necessary to be persistent, patient, observe local customs and treat older people with respect. One must never cause anyone to lose face. It is also important to understand local rituals. A simple but great example is how to accept a business card.

    Expand to Asia – Description
Never cause anyone to lose face, importance of rituals e.g. how to accept a business card

Baur Asia

Singapore Office

# 08-57 Vertex Building 
33 Ubi Avenue 3 
Singapore 408868
Office phone : +65 6293 6282
Fax Number : +65 6293 6383

Bangkok Office

Baur Asia (Thailand) Co., Ltd.
No. 25 Alma Link Building, Level 18 Soi Chidlom,
Ploenchit Road, Lumpini,Phatumwan,
Bangkok 10330
Thailand
Telephone : +66 2 509 0956