With the Chinese economy surging ahead, all kinds of predictions across the media and organizations worldwide are resting on the Asian giant. In order to get a grip on the social and economic outlook for China, Boyden, global executive search firm and AESC member, recently compiled a comprehensive report to discuss the following statement:

“With China predicted to be the largest economy in the world by 2020, Chinese business leaders will dominate and reshape global commerce.”

The result is a thorough document that considers the opportunities, and potential obstacles, of doing business in China, from the point of view of domestic organisations, multinationals and the executive talent involved on both sides.

Boyden depicts a ‘multi-polar globalisation’ with interdependent economic centers, a logic that defies a western-centric approach. However, change and growth for China comes with many domestic and international challenges.

Chinese organisations must move to a more open approach to hiring executive talent, beyond familial circles, and become increasingly culturally flexible – it is human capital that must lead China forward.

Multinationals must become versed in Chinese business practice, not simply attempting to repeat tried and tested formulas, and should enlist help to breakdown cultural opacity and alienation. In addition, clear pathways for Chinese talent to become independent and globally responsible must be in place.

These issues, of course, are far too complicated for a brief summary, so take a look at the full Boyden China report to gain a deeper look at the issues at hand and the opportunities at stake.

THE BOYDEN REPORT: CHINA 2011  

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This article was written by Christian Pielow from the Association of Executive Search Consultants (AESC).

BlueSteps is the exclusive service of the AESC that puts senior executives on the radar screen of over 6,000 executive search professionals in over 70 countries. Be visible, and be considered for up to 50,000 opportunities handled by AESC search firms every year. Find out more at www.BlueSteps.com.