Starcon: Market Perspective

The economic emergence of the world's most populous country and China's recent entry into the World Trade Organization creates within China a globally unprecedented retail environment. Fueled by an emerging consumer-driven economy and the gradual adoption of international business standards, China's massive market expansion is creating extraordinary opportunities for foreign businesses.

However, the progression to the new economy continues to challenge even the largest companies. The business environment has been irregular, if not chaotic, and early movers into the market often encountered insurmountable obstacles that forced many foreign companies to withdraw from the market or to become burdened with huge losses of time and capital. Today, despite the improving business climate, companies are still discovering that rapidly changing conditions, social and cultural barriers, and often-erratic government policies can significantly impede progress.

Nonetheless, the overall market conditions have evolved to the point that foreign enterprises, with skillfull navigation, can realistically expect to compete and profit in China. As with any emerging economy, the best opportunities to claim market share occur before the market is fully developed, while the dominant players are not yet determined, and before the business rules have been fully established. This is the situation in China, today, and companies with mechanisms that allow them to stay attuned to the local conditions and are flexible enough to react to change are well suited to capitalize on this unprecedented retail boom.

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