At this point, deep into third semester and all the group project work it brings, my blogging has pretty much trailed off.  I’ve loved writing about our experience in Asia and all that I’ve learned in the months since our trip!  But time is scarce and most of my attention now is turned forward to the business plan competition that serves as the capstone project of the EMBA program.

If you’re interested in learning about how the international trip fits into the Executive MBA curriculum here at the McColl School, I hope you’ll start at the beginning of the blog.  Happy travels!

My husband and I continue to marinate on all we saw and learned in China. 

Shanghai really blew my mind: just the sheer size and scale of it was awe-inspiring. While Singapore’s growth felt measured and steady in a “master plan” sort of way, Shanghai’s growth felt organic and spontaneous… and maybe even a little out of control.

China is like kudzu, the fast-growing vine that envelops and devours everything in its path.  Our accounting instructor told us that the top 25 percent of China’s population–as measured by education, income and professional success–is larger in number than the entire population of the U.S. Ouch, that’s a lot of smart people. When you throw India in the mix it’s clear we’re outnumbered.

Before our travels I understood China in a sort of intellectual, clinical way.  I read the papers and watch the news: China is big and growing.  It wants a bigger spot on the world stage. Got it.

But until I saw it firsthand I didn’t really get it, not in my gut.  China is a force to be reckoned with.  Most Americans believe our place at the top of the world food chain is pre-ordained.  We take our power and our position for granted; we’re America after all!  Our tenacity and Yankee ingenuity and rampant individualism will carry the day.

But now I’m not so certain. If we don’t start attacking some of our challenges–particularly those around education–we will find ourselves getting lapped. It won’t happen tomorrow or next year or even in the next ten years.  But 50 years from now?  The world could look a lot different.

Earlier this month China’s central bankers shaved a quarter of a percent off its benchmark interest rate (like our Fed Funds rate here in the U.S. I gather).  That may not seem like a lot but the lower interest rate is meant to stimulate lending and investment in the business sector. 

They also lowered the benchmark deposit rate by 25 basis points which seems like it would hurt savers, but they countered that with a rule that allows banks to pay up to 10% more than the new 3.25% rate.  This means savers will actually be able to earn a little more on their savings than they had been.  This was meant to stimulate household spending and consumption, which China needs to fuel its growing economy. 

There was a great story in the WSJ about Singapore making a go in fashion.

Some say Singapore’s squeeky clean image and tight governmental control aren’t conducive to creative pursuits like fashion, but a growing number of firms are proving otherwise.

The ladies in our class had heard about Charles and Keith–a Singapore-based shoe retailer–before we even got there.  They make affordable, greal looking shoes and accessories that people all over Asia travel to Singapore to buy. 

They’re looking to move into the US, which is great news for shoe lovers!  Evidently they struggle a bit with designing items like boots, because people don’t ever wear boots in Southeast Asia.  Too hot!  Obviously they’ve got some challenges to work out but I say watch out, Nine West! 

Hong Kong-based Shanghai Tang is the gold standard among Asian brands going global.  I fell in love with the store in Shanghai and ended up buying a gorgeous silk dress.