From Made in China to Designed in China
In the last two decades, Asia has become a powerhouse of global growth, contributing more than half of global GDP. Demographics, improved education and digitalisation are fuelling a boom economy.
Once seen as the world’s manufacturer of cheap goods, Asia is quickly moving from white t-shirts to white collar. This is prevalent in China, as companies shift their modus operandum from Made in China for the rest of the world to Designed in China for their own consumption.
The consumer story first saw people buying everyday goods like TVs & fridges. Now these same consumers want to trade up, driving premiumization, where local companies either have a better understanding of the local market, or cater to local customs and taste.
Kweichow Moutai, manufacturer and distributor of Baijiu is a drink ingrained in Chinese culture and is a great example of a company benefiting from this theme in Asia.
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