China Expansion
Yes, the 21st century will be the ‘Asian Century’. This is one of the few predictions most economists can agree on. Between 2000 and 2017, Asia’s share of global real GDP in purchasing-power-parity terms rose from 32% to 42%, and its share of global consumption from 23% to 28%. By 2040, these two measures are expected to increase further to 52% and 39% respectively [1].
China is a strong growth market for energy and manufacturing sectors. During the collaboration between Ecolabs and LvS partners we found several key insights to achieving results in this market.
China is a notoriously difficult market for foreign companies to penetrate. A successful expansion strategy should emphasize early entry and quick adaptation.