So what were the reasons for such high growth rates?
Our research suggests these three factors:
1) Cheap Labour
2) Cheap loans
3) Starting at bottom of the growth pyramid.
1) Cheap labour is available elsewhere too.
2) loans going bad
3) "late mover" advantage chickened out
The Communist ideology kept the growth rates down for almost 40 years and then China saw highest growth rates but now what is the pertinent question!
It will be interesting to see what the ruling party decides and our research tells that any decision will have a global impact.
Considering this: should we discount China?
1) which Management Style China follow?
2) slowdown means is China joining the big league?
3) rural china: opportunities galore.
Read more in coming days....