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Matters of ideology and security have become deeply entwined in China’s economic and business environment. The context is more politicized, more uncertain. At the heart of Xiconomics is the Dual Circulation Strategy, which marks out clear dividing lines between China’s domestic economy and the rest of the world. It sets out how China seeks to manage the links between the two just when western countries are also focusing on decoupling and "friendshoring". In order to prosper, business leaders and policy-makers need to understand these new international dynamics.
In this concise and incisive analysis, Andrew Cainey and Christiane Prange explain what is happening in China and how this affects its relations with other countries. They identify what foreign companies need to do, how strategies need to change, and what this all means for managing the China business as part of a global portfolio, under a range of geopolitical scenarios.
The authors provide a succinct picture of what it means to do business in China today. They provide an in-depth analysis of the intertwined historical, political and economic environment that managers must face up to and highlight the strategy options open to multinational companies. A must-read for everyone who seeks a nuanced understanding of China’s multifaceted business landscape beyond simplistic business headlines.
Introduction
Part I Dual circulation strategy and Xiconomics
1. What is dual circulation strategy?
2. Dual circulation: more continuity than change
3. Xiconomics and the China Policy puzzle
4. Putting the Xi into Xiconomics
Part II Three questions for global business
5. How will China’s internal business environment develop?
6. What role will China play in the world of external circulation?
7. Internal and external: separate or connected?
Part III Implications for global business
8. Multinationals and China
9. How dual circulation changes the game
10. Ambidexterity and connectivity
11 Resilience and agility in the face of uncertainty
12. Conclusion: navigating the contradictions in China’s ambitions