How the Zero-COVID lockdown impacted the Chinese economy

The COVID-19 pandemic has caused not only a public health crisis, but also an economic crisis across the globe. According to the International Monetary Fund, the median global GDP dropped by 12% from 2019 to 2020. When Omicron became the dominant variant, most countries started loosening their restrictions as the new variant is less deadly, […]

China’s street vendor economy: A band-aid or permanent solution for post-COVID-19 unemployment?

China's street vendor economy

China’s street vendor economy transfers earnings from the store owners to lower-income people. In contrast to the blue-ocean strategy,  which creates significant economic value with innovative or disruptive solutions, street vendors use existing business models while cutting operation costs. It will not make people rich, but it is effective at turning unemployed people into self-employed […]

Open Innovation: Transforming your Business in China

Smart Shopping in China

Open innovation (OI) is the process of integrating external expertise into the innovation processes of a company or organization. The overall purpose of implementing an open innovation strategy is for companies to take advantage of external ideas, resources, and market channels in order to advance their own technology and products. It essentially enhances a firm’s […]