Where am I, anyway?

Throughout my last days in China, I’ve begun to ponder: What is China, really?  Having never traveled to anywhere in Asia before and having had very little contact with Asian cultures, I really had no idea what to expect when I got here.  All of the images rolling around in my head came strictly from preconceived notions of China that I’ve gathered throughout the years from family, friends, movies, and the internet.

As we traveled from Shanghai to Qingdao to Beijing, I can honestly say that here in Beijing is the first time I have really felt like I was in China!  Due to having such a limited vision of the country and its people in the first place, there were multiple times that I forgot what country I was even in.  Shanghai, to

Shanghai Cityscape

me, was like New York by day and Vegas by night, and Qingdao, a coastal seaport city, was like any resort town with beaches and seafood.  Beijing has been the first city where we’ve been able to see a plethora of “Chinese-looking” structures, as it is home to the Forbidden City, a huge compound of palaces for the emperors of the Qing and Ming dynasties, as well as other historical temples and palaces.  In fact, our presenter today – David Kay, founder of start-up business incubator Yuanfen Flow – spoke to this as well, stating that while Shanghai feels like any major metropolitan city, Beijing really has remained quite historical.

Summer Palace in Beijing

Amidst the tall buildings and crazy traffic, there are immense city-like palaces and tons of green space.  While much of the authenticity of China has been torn down, Beijing is fortunate to keep and retain a large portion of this important part of the culture.  Whereas I can see Shanghai as more of the financial, economic hub of China, Beijing is truly the cultural, historical, and political center.

As your perceptions of the world tend to mirror those of the people around you, so do mine – and I don’t come from a family of world travelers.  I am the first.  So when I was leaving for China, my family began to express their concerns.  They seemed to be more worried for me to be in China than in Rio!  That is when I realized just how little they knew about China (or maybe about Brazil!)  Their main concerns were crime and safety issues, as well as worries of me being surrounded by an unfamiliar culture and language for the first time, as I’ve always studied the language extensively before visiting another country.

While I came into China with similar fears, I have now spent time in three major Chinese cities and have dined and shopped, polished my negotiating skills, visited various businesses, and met with fellow MBA students from Peking University.  Still, however, I’m not convinced that I understand China completely, but we’ve heard from some of our presenters that have years of experience here that even then you really never “know” China.  It’s such a huge, multi-dimensional, multi-faceted entity with so many different shades that I’m beginning to think you can never know it completely.

What is China?  It is an ancient civilization, a cultural sphere, a great nation of nations, and a rising power, all wrapped up in one.  It is truly one of the most profound, fascinating places on Earth.  But will China become the world’s greatest superpower?  Stay tuned to find out our opinions on this very question as we examine and analyze its strengths, weaknesses, threats, and opportunities.

“Real” Chinese Food

When Americans think of Chinese food, they typically think of things like sesame chicken, chow mein, egg rolls, and fortune cookies.  But these foods are actually “American Chinese cuisine” and differ significantly from original Chinese food.  Whereas Americans typically view vegetables as a side dish or garnish, authentic Chinese cuisine really emphasizes veggies and uses them in most dishes.  Authentic Chinese food also tends to be more pungent than its American counterpart and is made with less oil and salt and takes more time and energy to prepare.

Well, we can certainly now say that we’ve experienced “real” Chinese food…  Some of the more unique menu offerings that we have seen so far include snake head, duck tongue, goose liver, jellyfish, turtle, goose intestine, bamboo chutes, donkey, lotus root, frog, starfish, and goose egg, though we weren’t brave enough to try many of those things.   Not to mention that when you get a pot of chicken, you’ll also receive the head and feet, which are considered delicacies here!

During our few days in Qingdao – known for its seafood as it is a port city – we’ve also gotten to

Seafood Restaurant

experience some authentic Chinese seafood.  You walk into a restaurant, pick out the fish or shrimp you want (swimming in a tank), then you sit down and they cook the food you chose and bring it to you.  Of course, they don’t skin or de-vein the fish or shrimp, and they often come out with the head (and eyes) still attached.  This is something that is obviously somewhat foreign to many Westerners that are accustomed to the very processed seafood that is available in America.

Cooked Shrimp

Needless to say, a few of us got our feel of authentic Chinese cuisine and decided to try out some of the

Inside a Pizza Hut in Qingdao, China

Western restaurants that China has, such as KFC, Subway, McDonalds, and Pizza Hut.  These establishments are “fast-food” in the US, but are actually places to go on a date here in China, and many dates we did see.  They often have much more ambiance with dimmer lighting and a nicer environment, but also tend to have Chinese cuisine in addition to the Western offerings and a much bigger menu.

Last but not least, I have to leave you with a little about the potato chips here in China.  The flavors are just … different from what we’ve seen in the States.  Take a look for yourself!

Hot & Sour Fish Soup Lays

Blueberry Lays

Lemon Tea Flavor Lays

Hmm… I think I’ll try some Blueberry Lays now!

It’s a Small World After All

After the first couple of days on the other side of world, we’re definitely starting to shed light on this phrase… It really is a small world, and one that is becoming increasingly flatter as globalization continues to increase.

We’ve now visited five different companies here in Shanghai: Ford, Continuum Innovation, Citi Group, US Commercial Service, and Shanghai Bosun Capital Advisors.   It’s quite interesting how we are starting to notice some common themes woven throughout China, just as we studied back home, that manifest themselves in different ways in the various industries we have experienced.

Many of the issues that we discussed in detail in our Asian Experience course have been verified by several presenters thus far.  One evident concern is the rapid urbanization that China is experiencing as the population continues to shift from rural to urban areas , which has a profound impact on the financial industry, as it brings about a significant increase in the middle class — projected by some to be 45-50% by the year 2030.  This will lead to wealth creation and the growth of onshore liquid assets, as well as inspire a need for greater wealth management resources.  We’ve also come to understand the threat of rising inflation and China’s need to control it in order to maintain moderate growth (target rate of inflation is 4%).

We’ve also obviously been discussing China’s position in integrating into a global economy and its need to leverage its global footprint, though China is certainly not without dilemmas going toward this goal.  China’s export-heavy economy and low consumption needs to be refocused to become more consumer-centric and to achieve a better balance of imports to exports.  This will have to come with increased income and encouraging spending — in line with China’s plan for scheduled increases in minimum wage over the next several years.  Pollution is another tough challenge that China faces, that we can now speak to first-hand.  Being the #1 emitter of fossil fuels, China will have to make the move toward cleaner energy, especially in order to improve the health of its citizens.  However, we cannot assume that it is impossible for China to overcome these types of problems — it has lifted over 300 million of its people out of poverty in the last 30 years.

It will be intriguing to see over the next two weeks how the remaining business presenters view these and other issues, especially as we continue to see companies from more industries and in other cities in China.  Stay tuned for more from our visits to Qingdao and Beijing!

As we prepare to travel to Shanghai, Madeline, Zac, Michael, and I are excited to think about all the things we will gain from our experiences in China. Madeline and I have never been, so we are both anxious to experience the Chinese business world and see the differences in their operations. We’d also like to see the extent of Westernization in business there. We hope to gain a lot from different businesses in the various industries and compare them to the other countries we’ve been to as well.

Zac and Michael have both already been to China so they’re both obviously excited to get to return. Zac has only been for tourist reasons so he is looking forward to experiencing “the real China” and going deeper under the surface to understand how things really work in China. Michael, on the other hand, has had a few years of work experience in China, but he is anticipating getting to brush up on his Mandarin. He’ll also enjoy getting to experience different industries from the one he was in. I’m sure Zac and Michael are both looking forward to seeing their classmates’ first impressions of China.

Off we go… We’ll keep you updated!

Off to China We Go!

As we prepare to travel to Shanghai, Madeline, Zac, Michael, and I are excited to think about all the things we will gain from our experiences in China. Madeline and I have never been, so we are both anxious to experience the Chinese business world and see the differences in their operations. We’d also like to see the extent of Westernization in business there. We hope to gain a lot from different businesses in the various industries and compare them to the other countries we’ve been to as well.

Zac and Michael have both already been to China so they’re both obviously excited to get to return. Zac has only been for tourist reasons so he is looking forward to experiencing “the real China” and going deeper under the surface to understand how things really work in China. Michael, on the other hand, has had a few years of work experience in China, but he is anticipating getting to brush up on his Mandarin. He’ll also enjoy getting to experience different industries from the one he was in. I’m sure Zac and Michael are both looking forward to seeing their classmates’ first impressions of China.

Off we go… We’ll keep you updated!