Dreams about the future have been important for China and the Chinese over the past decades, but what they dream about has been changing dramatically. Business analyst Shaun Rein discussed those changing dream with Daftblogger, and the increased search for quality.
Over the past 30 years, everyone in China has been focused on making money. That was the dream. 15 years ago when I first arrived in China, most people were just struggling to put food on the table. For many then, eating meat or a having a hot shower was a real luxury. But with even migrant worker salaries growing 20% a year over the past 5 years, people are starting to think about more than just money.
Who cares if you can buy a Louis Vuitton bag if the air and water are poisoning your children? Over the past year especially there has been a new conception of the Chinese Dream. People are looking for more quality of life issues and more individual expression rather than buying bling and what everyone else aspires to in order to show off. For foreign entrepreneurs and innovators, there are great opportunities to tap into this shift. I remain especially bullish on tourism as I said before, as well as in pollution reducing products (like air and water purifiers where there are 30 day waits in Shanghai for the best ones).
Earlier today the China Weekly Hangout discussed how Australia and New Zealand can tap into China’s development. A few plans came up: the dairy industry, tourism and Chinese interest in luxury products. Participants: Simon Young from Auckland, Harm Kiezebrink from Beijing and Fons Tuinstra from Antwerp.