Few people know China like Joerg Wuttke. Former Chief Representitive of BASF and President of the EU Chamber with over 35 years of experience in the country.

His insights into China's business landscape are unmatched—and his opinions? Sharp as ever!

Wuttke emphasizes the importance of understanding the local market, the danger of over-localization, and the potential for China to serve as a global learning centre for businesses.

He also addresses the unpredictability of global relations and the necessity for MNCs to adapt to changing dynamics in the market.

Takeaways

• Never underestimate China and do not extrapolate China.
• China is a fitness centre for global business.
• Localization is a must, not just in China but over-localisation leads to lost opportunities.
• China has economic headwinds but still produces global champions.
• Diversity drives innovation and new ideas.
• Don't just be focused on China as an export market.
• The best brains in engineering are in China.
• You have to steady your supply chain.
• Engage in associations to help your region develop.
• Understand the culture you're working in.