Foreign brands got into hot water when describing Hong Kong, Macau and Taiwan as independent countries. Business analyst Shaun Rein explains at the BBC it is not only the government fanning the flames but increasingly nationalistic consumers who boycott foreign brands stepping on political toes.
The number of wealthy families on Greater China has grown in 2017, but growth is dropping and might even be lower in 2018 caused by the trade war and declining economic growth, says Rupert Hoogewerf, chairman of the Hurun China Rich List according to Barrons in a new report released this week.
The debate is taking off on whether China would allow gambling on Hainan Island. Financial analyst Sara Hsu explains gambling would diversify the tourism industry on the island, but would also hurt the economy in nearby Macau. Two earlier efforts on Hainan were already aborted for political reasons.
Not only commodities like soybeans and caviar can be hit by tariffs in the ongoing trade war, China has many more potential targets, like the US casino’s in Macau, says business analyst Shaun Rein, author of The War for China’s Wallet: Profiting from the New World Order, at Onlinepoker.net.
International airlines, ignoring Taiwan is part of China, according to China, were the latest to get into hot water with their marketing. But China’s sensitivities are nothing new, say Tom Doctoroff and Shaun Rein to OZY. It makes sense to let your China marketing vet by some China veterans, says both.
Chinese consumers have different requirements from what most international companies are used to. Gambling hotspot Macau is a clear illustration, says branding expert Shaun Rein, where an imitation of Las Vegas fell flat, he tells in Forbes, although it is a must go for mainland tourists, they miss a lot of business.
Macau used to be the first spot for Chinese to gamble with their money. But the enclave is losing its attraction and business analyst Ben Cavender looked at the reasons why Macau is losing its competitive edge to other regional hotspots, at CalvinAyre.com. They should offer more that just gambling for the hard core addict, he says.