My Impressions from China and Hong Kong
I was honored to speak in front of business leaders at the recent “Leadership Summit” in Shanghai. My ensuing conversation with top managers from Alibaba and Huawei regarding the changes they are seeing in negotiations was revealing. What was particularly striking was their assessment of the power balance between Hong Kong and Mainland China. Only a few years ago, Hong Kong was the first port of call for Western businesses who wanted to take a initial steps towards building relations with Chinese companies.
That has fundamentally changed. Mainland China has overtaken Hong Kong in many areas. Shenzhen, a fishing village only a few years ago, is now hosting the headquarters of many large businesses like Huawei, and in 2017 the city overtook Hong Kong in terms of GDP. Companies like Huawei are setting the pace. Negotiators from Mainland China are showing more assertiveness in negotiations and expect to be shown respect for their achievements.
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