AI and e-commerce expert Sharon Gai discusses what companies can learn from their competitors in China at a conference in Europe. China explained for non-Chinese marketeers.
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Tesla is losing its China market in the competition with its Chinese competitor. It might lose the rest of the world unless foreign protectionism saves the American car, says Shanghai-based business analyst Shaun Rein at CNBC. Nobody can beat China when it comes to price wars, he adds, and Chinese manufacturers will dominate the market in five to ten years, he adds.
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Action is needed to prepare for our next reality now AI and XR technologies mature, argues Alvin Wang Graylin at the introduction of his book Our Next Reality: Preparing for the AI-powered Metaverse at the Stanford Digital Economy Lab.
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Days are gone when Chinese consumers carried large plastic bags of cash to pay for houses, cars, international trips, and other big-ticket purchases. Credit cards are big among especially younger consumers, says Shanghai-based business analyst Shaun Rein at the WSJ.
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After a lackluster start of 2024, consumer expert Ben Cavender sees a modest improvement in consumer sentiment in China, he tells Reuters. He said some companies were thinking about how to grow their business in China again after years of holding off on investing, which was helping sentiment to improve.
Reuters:
Other analysts said the spending data could be a turning point, as consumption in China has struggled to recover since the lifting of COVID curbs, weighed down by a property market downturn, high youth unemployment and concerns over job security amid an economic slowdown.
“Our sense is that there is a small but growing sentiment within white collar jobs that the market situation is improving and this is also leading to greater willingness to spend,” said Ben Cavender, managing director at Shanghai-based China Market Research Group.
He said some companies were thinking about how to grow their business in China again after years of holding off on investing, which was helping sentiment to improve.
In February, average spending per trip during the Lunar New Year holiday, one of the biggest holidays, fell 9.5% versus 2019 according to Reuters calculations based off government data, prompting analysts to say that “consumption downgrading” was still happening.
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The USA is dealing with huge problems and cannot afford to challenge China directly, but decided to stabilize the relations between both countries, says Shanghai-based business analyst Shaun Rein to CNBC-TV18. But the USA is for sure keeping economic pressure going, he adds.
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Political analyst Victor Shih breaks down the relations between China, the US, and the rest of the world in a discussion from the Chevron Auditorium in the I-House on “China-US Futures: Pathways to Peaceful Coexistence”. Key takeaways: many problems perceived by American politicians with China are not as bad as they try to let us believe.
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