It has been 10 years since the crisis that shook the financial world in 2008 and led major economies to recession afterwards. Collapse of Lehman brothers marked the first event in a series of catastrophic events that followed. Major global economies entered into what has been dubbed the great recession. Western economies contracted and struggled, and even today 10 years after the crisis, their levels of growth are highly unsustainable for a variety of reasons, whereas economies like China have been growing at rates above 8% and 10% annually, and recently above 6%. Next few decades, eastern countries will be setting global governance frameworks and models.
Recently, evidence of slowdown in the Chinese economy is mixed. Growth still continues but there are some signs of faltering in some segments. Banks need a boost and property sector needs constant monitoring to avoid overheating. Effects of the US-China trade war may not be felt to their true extent until after the tariffs take full effect in Januray 2019.
In this issue, the focus column point out 5 topics that you should be aware of, not only to better understand the reality of China but also if you want to do business here.
There are many other interesting articles this month, and I invite you to read them all after having checked our content page. We are sure you will find topics that will help you in your professional and personal life, such the benefits of diversity at workplace, the recently currency War or even the first battery-free phone.
Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.
Mary Smith
Managing Editor | Business Tianjin Magazine
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
CONTENTS
06 BIZ BRIEFS
10 ECONOMY: Working On Multiple Fronts
12 FEATURE STORY: Global economic gravity center is shifting to the east
14 COVER STORY: Mix the Right Cocktail to Satisfy Our Guests
19 PAST EVENTS: Challenges in 2019: Top Executives Meeting
24 FOCUS: 5 Challenges in Today’s China
26 TRAVEL: Akureyri, Iceland
28 IN DEPTH: The Currency War
30 INSPIRATION: Making The World As GOOD As POSSIBLE
32 INVESTMENT: Shanghai pharmaceuticals
34 IPR: Medical Device Industry
36 NUMBERS 37 BUSINESS NEWS 38 E-Biz: How to Use Your Customer’s Questions
40 TAX & FINANCE: The priority of China’s anti-tax avoidance work in the future
44 LEGAL: New Individual Income Tax Law are Seeking Public Comments
47 REAL ESTATE: Sino-Singapore Tianjin Eco-City
50 TECH: First Battery-Free Mobile Phone
52 MARKETING: The New Way of Communicating!
54 HR: Benefits of Diversity at the Workplace
56 CHAMBER REPORTS 58 LISTINGS 64 ART & LEISURE: Chinese Heritage Interplay of Architecture
66 BOOK REVIEW: China’s Mobile Economy
69 LAST WORDS: Why Do Parents Send their Children Abroad for Schooling?