China

With each passing year the importance of China's economic re-emergence on global markets becomes ever more apparent. In the wake of financial crisis, the Group of Eight leading economies has given way to the Group of Two - the USA and the People's Republic of China.

Since initiating its open door policy under the tutelage of Deng Xiaoping, China has achieved tremendous economic and social success. Growth averaging 9.7 percent per annum since the late 1970s has helped to lift several hundred million people out of absolute poverty. China has been transformed from a traditional centrally planned economy into a market economy, and an enormous new middle class has been born.

The rise of China is one of the telling stories of our times and, from a business perspective it is a land of abundant opportunity. But this future opportunity is predicated on the delicate balance between entrepreneurialism and the role and influence of the state.

Addressing a strategy for China is arguably one of the most important challenges that an international business will have to face, if it is to remain globally competitive in the future and be able to maximise its business opportunities.

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