The success story of the emerging markets (and sputtering of industrialized west) is juxtaposed with the current and future story of the rise of Asia.
CommunicAsia 2011 is just around the proverbial corner. Many visitors will be again be treated to a pageantry of IT exhibits focused on getting the attention of buyers and decision-makers bent on capturing the rich Asian market.
But if you are one who still equates Asia with cheap labour and products at knockdown prices, you may be in for a shock as most Asian companies particularly in China, India and South Korea gear up to go to the next level.
As a recent Financial Times article points out: The most successful emerging markets are no longer about low-cost manufacturing, but about competing with the west on level terms. Family-run businesses are not so prevalent, and research and development and effective management have become more important. The best emerging-market companies have not only become more similar to their western rivals, but they are now also competing with them. In many cases, west has met east as companies in the emerging and developed markets have joined forces to boost growth and the bottom line. The number of emerging-market companies in the Financial Times Global 500 has jumped to 127 in the latest list to be published this month, compared with 120 last year and only 32 in 2002.
No doubt, there’s plenty to look forward to at CommunicAsia. This year, the Chinese pavilion alone has more than 50 exhibitors even as Finnish giant, Nokia makes a return also. Somewhere is the Philippine delegation, a relatively small but tight knit group that is confident in its IT expertise and capability to deliver innovative software and web development solutions.
Keep in mind however, that all of this is just but the tip of what analysts expect will be the bigger picture – that emerging-market companies can and will continue to expand. And at CommunicAsia, you’ll probably enjoy a first look before these Asian companies soon begin taking over the world.