Latin America: The China of 2020
Practically every time I discuss the future of global business opportunities, specifically when it comes to new emerging international markets, China always finds its way into the conversation. It does not matter whether the conversation is with a potential client looking for new growth or a fellow international veteran currently exploring how to do business in China or on the brink of initiating his/her expansion in the region. In any case, they feel that they have missed out on the benefits that a market of this size can yield in terms of global revenue and market share growth. All politics and bureaucracy aside, there seems to be three main categories that U.S. companies fall into: (1) Those who got an early start, did it right and are now enjoying the fruit of their pioneering spirit; (2) Those that missed the earlier opportunities or did it “their way” and are still struggling to figure it out; (3) And those that are just now looking into the Chinese market. Simply put, everyone is talking about it.
The Chinese economy has eclipsed the U.S. and European markets consistently over the past ten years. So of course it is a very hot international topic…but that was then. Consider this: the Chinese economy is currently stagnant, the U.S. has flat lined and Europe is in total disarray. There is a new yet not-so-new player in the arena, and if you are looking for the next emerging market opportunity, the next middle class boom (as we had in the U.S. in the ‘60s), this series of articles in my upcoming posts will explain why I believe the emerging double digit growth economies and middle class populations of Latin America will be the China of 2020.
Stay tuned for our Latin America: The China of 2020 series.