Speaking Chinese without an American accent
Commentary: To know China, see the world through its eyes
By Andrew Leckey
PHOENIX, Ariz. (MarketWatch) -- Will the heavy national debt load of the U.S. turn it into another Greece? Could the U.S. cope if it was surpassed by China as the world's largest economy? Is the U.S. increasingly becoming a protectionist country?
Investors are bulllish about Brazil elections
Both candidates in Brazil's presidential election in October are regarded as safe bets for investors, according to Joe Harper of Explorador Capital, who says the markets are expecting continuity in the change in leadership. Claudia Assis reports.It seems strange to label as emerging a nation with so many centuries of dynasties behind it, but global economic power is relatively new in this nation where ancient structures coexist with skyscrapers. As China chooses its own course, developed nations are suspected of conspiring to hold it back, whether through organizations such as the G20 or the policies of individual nations.
Volatility of Chinese markets is sure to continue, impacting the world just as it is affected by other markets. China's hot economy and real estate market have likely come too far, too fast, and cycles are unavoidable.
Nonetheless, the transition of China from a low-cost assembler of exports to the West to a major consumer of products and services and a seller of products to the rising middle class throughout Asia is ahead.
This likely will depend less on developed markets and more on emerging economies that need consumer staples, information technology and automobiles. There will be dramatic growth, despite the ongoing ideological, trade, currency, political and environmental differences between China and the U.S.
What China wants
Whether it involves investing, business dealings or debate, dealing with China requires mutual respect:• Many Chinese take personally the criticism of government policy. While we are often loudly critical of our government, they consider China one entity that includes them. Outsiders criticizing it are, in effect, disrespecting the Chinese people and heritage. Harmony is important. Stick to facts when discussing issues of conflict and make sure your points stand on their own merit, which is not a bad idea no matter what the country.
• They know more about us than we know about them. Our clothes and technology were made in China, but our information is limited to news reports. They see our movies, follow the NBA, dine at KFC and Starbucks, buy Buicks and display posters of American actors and athletes in stores. They celebrate Christmas big-time, though not the religious part. Yet that's hardly a clear picture of America or Americans.
• Negative quotes about China from U.S. politicians are taken seriously by the Chinese, much as U.S. sports coaches tack negative quotes from rivals on locker room bulletin boards. The fact that many in Congress intentionally make statements to appeal to constituents is not always evident to the Chinese.
• When significant issues are brought up, Chinese of all ages point out that we should realize they've come a long way in a short period of time, even if where they're headed isn't totally mapped out. Bridging the gap between wealthiest and poorest will be one of the biggest economic tasks.
• Young Chinese are under pressure from country and parents to succeed, far more than U.S. young people. Chinese parents who grew up under a different economic system tell children to study and work harder. The one-child rule put added pressure on the young to succeed. Shopping malls throughout China are crowded primarily with those under age 30, indication of the younger generation's financial empowerment.
• And yes, the Chinese generally do prefer to deal with people they've gotten to know well. This isn't such a rare concept in any country, but friendships definitely build bonds that turn to business and shared information in China. Drive-by meetings won't accomplish much, while repeat visits are valued.
Americans these days study China much as they studied Japan 20 years ago -- with fear and a sense of urgency that we are about to be overtaken economically. I leave you with one last non-economic question posed to me by the Chinese host on a special talk show honoring legendary television news anchor Walter Cronkite:
Why was there no journalist of Walter Cronkite's stature in the U.S. who was able to draw to an end the war in Iraq as Cronkite did in Vietnam?
Sounds like a loaded question. But for an American interviewed in China, turnabout is fair play. After all, I always have my own set of loaded questions to ask the Chinese.
Andrew Leckey is president of the Donald W. Reynolds National Center for Business Journalism in Phoenix, and has been a frequent guest on China Central Television (CCTV) interview programs in Beijing.
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