Why has China yet to produce a true, homegrown global brand in the manner of Japan and Korea?
Like Chinese brands, Korean and Japanese brands – Samsung, Toyota, Sony etc. – are built on scale and have benefited from decades of consistent national economic policy rooted in vertical and horizontal integration. (Japanese keiretsu, for example, are modern incarnation’s of the Meiji era’s ziabatus, family-controlled – and interlocked – conglomerates that fuelded the county’s industrialization during the nineteenth century.) China has only experimented with “brands” (i.e., intangible “goodwill” as a driver of share price) for the past ten years. Yes, China’s macro- and micro-economic strategies are also scale-driven; competition for “strategic industries” is “managed.” So, in ten years or so, China brands’ global presence may have made progress. But it’s not just a question of time. Japanese and Korean products are highly innovative, obsessed with details that delight. Unfortunately, Chinese companies, even the largest ones, have not yet planted the seeds of genuine, consumer-driven
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