China has changed so much, she is almost beyond recognition. With this
captivating introduction, Mr. James Ng Chan Choy, managing director of
Carlsberg China, also the industrial adviser for UTAR Faculty of Business
and Finance and Faculty of Accountancy and Management, delivered his talk
entitled, "My Experience in China and How China has Evolved and its Future
Impact in Malaysia and the Region" to staff and students at UTAR Perak
Campus on 29 May 2009.
Sharing his 17 years of extensive experience in China , he expressed, "China
, the mysterious middle kingdom is no longer the ugly duckling among the big
countries. Its open door policy since the late 1970s has transformed China
from a backward third world country to the third largest economy in the
world after the US and Japan with a nominal GDP of US$4.4 trillion in 2008.
When measured on a purchasing power parity (PPP) basis, its economy is the
second largest in the world after the United States with a GDP of $7.8
trillion in 2008."
Ng provided an overview of the history of the economic development in China
. He said, " China admission into the World Trade Organization (WTO) in
2001, has led to further economic liberalization and deregulation. In 2004,
China further strengthened and improved its macro control, and the economy
entered its best ever development period of recent years."
"China's ongoing economic transformation has had a profound impact not only
on China but on the world. Not only many multinational companies are in
China but also there is much joint collaboration with renowned world-class
universities in the education industry."
What about impact of China on Malaysia?
According to Ng, there are many success stories of Malaysian companies such
as Parkson, Shangri-La, Petronas and Maybank and some Malaysian celebrities
such as Datuk Michelle Yeoh, Ah Niu and Liang Jing Ru have carved their name
in China.
However, some Malaysian small and medium enterprises failed in China . They
failed to understand that China market is very different from our home
country and products require adaptation due to the differences in culture
and taste.
Ng pointed out that to move forward, China will focus on economic stability
and free market. Growth in sectors such as finance, services and green
technology are anticipated. Therefore, companies may look forward to
investing in raw material, processed foods and goods, industry and trading,
logistics, tourism, education, medical care and financial services in China
.
The talk was followed by a lively session where participants posed
interesting questions pertaining China's development and were eager to learn
first-hand from an experienced industry practitioner.
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