The new wave of localization - why many foreign companies build a 'second home' in China
Pushed by demand from the EU and US, China recorded its biggest trade surplus to date. And almost all major corporations - from DuPont and Airbus to Tesla and Lego - have meanwhile set up innovation or R&D centers in China. Marco Beba, Managing Consultant at EAC Shanghai, explains why it is increasingly important for foreign companies to buid a ‘second home’ in China.
In his article for the Spring 2022 issue of "German Chamber Ticker” Marco Beba analyses the major reasons why foreign firms see the need to increase their exposure in the Chinese market and why they invest in upgrading their China value Chain. His forecast: The next five years will completely change markets worldwide, so foreign companies have to decide on how they want to play in China – all-in or nothing.
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