Australian Banks in Asia
Case for critical thinking: Australian banks in Asia
Notwithstanding challenging business conditions in China, do you think Australian business needs to exit Europe and America and focus on Asia? Justify your answer.
Establishing a profitable business can be difficult in general, let alone doing it in another country. Whilst there is an enormous amount of untouched potential to be found in the Asian market, it has been found to be a great deal more complicated to establish a business in this region of the world, due mostly to cultural restrictions. In my opinion, whilst Australian business is still finding its feet in the Asian market, business in Europe and America should continue as normal. This ensures a safety net in the unfortunate even that Asian business may not take off as intended.
How would you set about building relationships with Chinese counterparts in order to establish a business operation there?
In my opinion, in order to build relationships with Chinese counterparts it would first be necessary to make a huge effort in understand Chinese culture and tradition. Through this a level of respect is emanated and it would be shown, that whilst Australian business may be entering the Chinese market, it is adaptable to suit the people of China and their needs.
Would it be better to invest in other Asian countries like India (with just as big a population)?
Whilst India also has a large population that would be a pivotal factor in the success of a business, it is evident that China as a country is more established as a global business leader. A large number of hugely successful companies have originated in China and have made their way global. Seeing as though Australian business is still finding its feet, even in the Chinese market, it might be wise to establish and perfect