Back in the Hutong
Finally, blogging again
As the debate over if, when, and how China will begin to produce global brands continues, someone quipped today that China will start building brands only after it starts creating products people want to buy. That’s a fair point, but I don’t think it goes far enough. As Thys De Beer wrote last year:
In the 1920’s WK Kellogg said: “The purpose of business is not to make a profit. What a dreary and demeaning description. The purpose of business is to add value to people’s lives. The consequence of doing that well is that you make a handsome profit.
Debate that if you will, but I think that Kellogg’s statement reflects
an idea that has yet to germinate among Chinese executives, and that therein lies the core reason why China has yet to produce global brands.