Everyone has heard off Apple, but there is a new tech giant sweeping the world. Huawei, a Chinese based company has surpassed Apple as the world’s top cellular-equipment maker, and they are only continuing to grow. Huawei is not a popular name because it currently is illegal in multiple countries due to spying and cyber theft accusations, but around the globe, it continues to grow. The problem with Huawei for the U.S. is that no matter what the U.S. does, it will continue to grow.
globalEDGE Blog - By Tag: china-and-america-series
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Sadly, this is the final chapter in our China and America blog series. We hope you enjoyed learning the many different aspects that make the U.S.-China relationship one of the most important in this day and age for the current global business climate. This especially holds true for the energy sector.
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Anyone who has engaged in cross-cultural business knows that spending a little bit of time to understand the other culture will go a long way towards producing business success.
This is especially true in China, where business relationships usually require some form of personal relationship. In this country, business partners typically go through a long process of “courtship,” which will likely entail banquets and other events aimed at getting to know each other on a personal level, as well as a string of meetings where business progresses at a snails pace. This process is vital from the Chinese perspective, as the nation’s cultural values emphasize long-term relationships and prosperity over quick, impersonal deals.
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China has three main goals it weighs when considering where to invest its vast sums of money. Those goals are “safety, liquidity, and profitability - in that order.” For many years, the result of this strategy has been to invest heavily in U.S. Treasury notes. As the Middle Kingdom’s coffers began to fill with dollar-denominated debt, the financial well-being of the entire nation began to be increasingly tied to the strength of the U.S. dollar. So it should not come as a surprise that declines in dollar value that have occurred in recent years have been met with consternation by the Chinese.
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This week we will be posting a series of blogs examining the increasingly important economic relationship between China and the United States. We will cover a variety of topics, ranging from trade, to high finance, to manufacturing. We hope you enjoy it!