I don't know about you, but when I want to understand what's going on in a location in which I am not currently residing, I ask someone who lives and works there daily.
Take China, for example. There's a ton being written today in this sphere how the business climate is there, what to expect in the future for the China market, and, naturally, speculations on when China's property bubble will burst.
Just the other day, I saw an item in the news about China's property market. It declared that "China's property market is a bubble that may burst by as early as this year, according to hedge fund manager James Chanos. According to Chanos, this will put China's economy, 'on a treadmill to hell . . . ' when the real estate bubble bursts later this year or sometime in 2011."
"Treadmill to hell." Those are some strong words, but are they based on solid knowledge and experience? Dr. Kim Woodard, a global business expert who has worked in China for the past 30 years, disagrees with this assessment on China's property market. Kim, who helped successfully lead some of America's first companies into Asia, talks more about this in his recent blog post, The China Property Bubble, Myth and Market Reality on the China Business Blog and Podcast. As one of the preeminent "deal guys" in Asia, Kim recently joined Technomic Asia and Tompkins International to make sure that we are not missing the boat in China.
Now more than ever, it's essential for global companies to have folks on the ground in China who understand how to interpret the economic signals around them and how to react. Sure, you can read news reports and interviews, but it is always smart to hear from those who are on the ground.
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