Briefly…Top Ten Tweets (From Obamao, Experts & Oxymorons To Emerged Economies, Consumer Wealth & A Blushing Barbie)

Related entries: Business Issues, Consumer Market, Economy, Environment, General, Investment, News, Risk & Law

Last week’s top tweets from our ChinaBlogTweets Twitter feed are below, along with some comments.

1. Oxymoronic expertise RT @casperodj: in case you hadn’t seen it yet – The Myth of the China Expert (China Hearsay): 12:48 PM Nov 21st

Comment: China is too big a place, and is moving too fast, for anyone to claim to be an “expert”. We prefer “specialist”, and we have a network of those, as each sector, function and location has its own special secrets! For the best China “expert” clichés, try searching for #fakechinaexpert on Twitter…

2. “Emerging” no more RT @DanHarris: Must read James Kynge article on China as developed country. 2:48 PM Nov 20th

Comment: Talk of “emerging markets” has gone on long enough. China has surely emerged already! It may already be the biggest exporter, and is the third largest economy overall. It will eventually, of course, be the largest.

3. Wealth gap RT @vshih2: bcg via Caijing: 0.1% of household owns 48% of wealth in China 8:28 AM Nov 20th

Comment: There are plenty of rich people in China, but like most Chinese statistics, while the percentages may be small, the absolute numbers are large. The wealth divide is a sticky political issue, and one that the government is working hard to address. More news on wealthy consumers is here.

4. Sustainability RT @GreenerChina: Blog post Understanding China’s Position on Climate Change, and Repositioning Global Discussions 7:16 AM Nov 20th

Comment: China’s impact on the environment is massive, and its rate of urbanisation is accelerating. China wants the same living standards for its people, as enjoyed by those in the West. Getting agreement on how to achieve balance is critical and Greener China notes that in order to “better engage stakeholders in China, the climate change debate must be reframed in a way that resonates with individual worldviews.” No more lectures then. To be better informed, have a look at the China Greentech Report.

5. Copper-bottomed corruption RT @drlombardo: China [SOE] allegedly bribed Afghan mines minister w/ $30M… 6:52 AM Nov 20th

Comment: Corruption in China has been a topic here for a long time, and it is increasingly also becoming an issue in relation to China’s overseas direct investment (ODI). China risks reputational and commercial damage, as well as political fallout. Long-term access to international resources will require a careful approach from China. Anti-corruption efforts are ongoing, but more needs to be done.

6. Due diligence: Trust (China Law Blog) But Verify (China suppliers) 9:27 AM Nov 19th

Comment: We have said it before and will say it again, due diligence is important everywhere – and especially in a complex place like China. Enjoy the relationships, build the guanxi, but ignore the need for verification at your peril! We list some examples, and link to a guide, here.

7. Consumer enigma: RT @MalcolmMoore: Looks like my gushing review of the SH Barbie store as a “work of genius” was, ahem, misjudged. 8:03 AM Nov 19th

Comment: The China consumer is a bit of an enigma, and products, brands and retail concepts do not always transfer well. The post quotes Paul French, of research company Access Asia: “They overestimated their brand recognition in China. I just think the concept is wrong.” It is not the first, and will not be the last. We posted on retail strategies here.

8. “Obamao”: RT @jzcatrandom: Must Read RT @fuzheado Very smart take on Obama’s Shanghai town hall f/ James Fallows… 5:47 PM Nov 18th

Comment: Obama got a lot of press on his China visit (and elsewhere). There were even “Obamao” T-shirts (odd bed fellows Obama and Mao…). Fallows makes the point that it is no good lecturing the Chinese leadership (or people). Good to see a pragmatic approach. In China it helps to be polite in public, and to keep some comments behind closed doors.

9. Planning: Sometimes ppl only think of due diligence as the deal approaches & nerves rise. Earlier is better. Long day ahead for our man in Shanghai! 6:25 PM Nov 16th

Comment: Confidence can become more and more fragile as a deal gets closer. Often we are asked to do due diligence at the last minute. While some checks can be done quickly, this is not the best approach. Early due diligence can not only limit risk, it can also provide crucial business intelligence to support negotiations. Do it early, and sleep well! See more here.

10. FDI US$7.1 bn in Oct RT @ChinaDailyUSA: China’s FDI up for third consecutive month in Oct 4:11 PM Nov 16th

Comment: FDI was “up 5.7 percent year-on-year…$7.1 billion in FDI [in October], compared with more than $6.7 billion in October 2008”. But the total for the 1st 10 months was still down, “$70.87 billion, down 12.6 percent from the same period of 2008”.

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