Great article in Canada’s Globe & Mail about entrepreneurs who are seeing and creating opportunity out of today’s markets. You can read the complete article here but here are some highlights:
- That gung-ho attitude is common in Chinese business these days. China may be going through its sharpest downturn in years but many companies see it not as a disaster to moan about but an opportunity to seize.
- Big Chinese resource companies are scouring the world for bargains. In one week last month, they spent nearly $60-billion (U.S.) to sew up supplies of iron ore, copper, zinc and oil.
- The crisis is a chance for Chinese companies to mature, going beyond the low-tech, cheap-labour model that helped lift the country out of poverty. “Companies with good capabilities and determination can survive and even refine their skills for the better”.
Overall, an excellent article that is not only well worth the read but well worth considering.