I was reading a great article from Sir Martin Sorrell of WPP on the Chinese economy http://www.linkedin.com/today/post/article/20131203090302-237838958-5-lessons-from-china-s-top-100-brands?trk=mta-lnk
It’s is an interesting article from a number of angles. The key for us is that many of their most successful businesses are using innovation and technology to drive their growth into 2014.
We are in a unique position as a high technology search recruitment firm in that we spend our days talking to the key people across lots of different sectors both within the UK and Europe. This gives us a great “helicopter” view of how our technology and engineering industries are growing and evolving comparable with their peers overseas.
As we all know, long gone are the days of widget manufacturing in the UK; and the truly successful SME’s and Corporates are built on the foundations of competitiveness on a global scale, rather than being the market leaders within the UK or EU market.
The phenomenal growth of both the Chinese and Indian economies will have a growing influence over the global economic landscape, and will directly challenge the traditional western economies historic advantage of innovation and creativity.
Take the UK car market. It’s predicted in just 5 years Chinese car manufacturers will have over 10% market share; whereas in 2008 they had 0%.
As in any competitive market, only the strong survive and the top companies in any market welcome the challenge and competition to push standards higher.
Are you fit for the challenge?