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Matters of ideology and security have become deeply entwined in China’s economic and business environment. The context is more politicized, more uncertain. At the heart of Xiconomics is the Dual Circulation Strategy, which marks out clear dividing lines between China’s domestic economy and the rest of the world. It sets out how China seeks to manage the links between the two just when western countries are also focusing on decoupling and "friendshoring". In order to prosper, business leaders and policy-makers need to understand these new international dynamics.
In this concise and incisive analysis, Andrew Cainey and Christiane Prange explain what is happening in China and how this affects its relations with other countries. They identify what foreign companies need to do, how strategies need to change, and what this all means for managing the China business as part of a global portfolio, under a range of geopolitical scenarios.
— Joerg Storm, Global Head IT Infrastructure, Mercedes Benz Mobility, Stuttgart
Andrew Cainey has advised businesses and governments on China for over twenty years. He is a senior associate fellow at the Royal United Services Institute; a founding director of the UK National Committee on China; and an advisory board member for Lumen Capital Investors, a Singapore-based multi-family office.
Christiane Prange is a Professor of Strategy and International Business with universities in Europe and globally. She previously taught at Tongji University and Jiaotong University (Antai College) in China. She also advises multinational companies on their internationalization and agile strategies.
Introduction
Part I Dual circulation strategy and Xiconomics
1. What is dual circulation strategy?
2. Dual circulation: more continuity than change
3. Xiconomics and the China Policy puzzle
4. Putting the Xi into Xiconomics
Part II Three questions for global business
5. How will China’s internal business environment develop?
6. What role will China play in the world of external circulation?
7. Internal and external: separate or connected?
Part III Implications for global business
8. Multinationals and China
9. How dual circulation changes the game
10. Ambidexterity and connectivity
11 Resilience and agility in the face of uncertainty
12. Conclusion: navigating the contradictions in China’s ambitions