China has matured as a market - and the game has changed. Yesterday, multinationals grappled with fundamental strategic choices: Do we go to China? Whom do we partner with? Where should we invest? "Winning in China" was all about achieving approval to enter the market, picking the right joint ventur[...]
Our intuition on how the world works could well be wrong. We are surprised when new competitors burst on the scene, or businesses protected by large and deep moats find their defenses easily breached, or vast new markets are conjured from nothing. Trend lines resemble saw-tooth mountain ridges. The [...]