I’m really enjoying co-hosting the P&G Alumni podcast, bringing voices from Asia to the mix. And what a privilege to speak with Shaun Rein, Founder and Managing Director of the China Market Research Group (CMR)! This guy leads the world’s leading strategic market intelligence firm focused on China, and regularly works with boards, billionaires, heads of states, and CEOs. Here’s are three key points I captured, hosting Learnings with Leaders with Shaun Rein.
1. What to do in your 20’s, 30’s and 40’s
Shaun offered a clear Learnings/Leaders framework, which I wish I’d heard 20 years ago!
– 🙇🏻♀️ In your 20’s, ACQUIRE knowledge. Don’t worry so much about proving your expertise. Rather, invest in learning.
– 🙋🏻♀️ In your 30’s, IMPLEMENT knowledge. Now you’ve got some good experience and insight. Exercise it to drive results.
– 👩🏻🏫 In your 40’s SHARE knowledge. At this point, you’re (hopefully) successful and wise. Teach what you’ve learned.
2. American vs. Chinese education
Shaun kicked off this topic with the statement, “I think there’s something wrong with higher education in America.” He feels the emphasis on AP’s and lack of innovation in American education is negatively impacting our students. Specifically, as a result of trying to get into the best colleges, educators may be focusing too much on rote memorization.
Meanwhile, the Chinese educational system used to be so weak that parents regularly invested in outside-school tutoring (called buxiban). But today, the system has been improving dramatically, focused less on rote memory and more on innovation.
Wow, I resonate with this observation deeply! Personally, I have always wanted to be as involved in education as possible. To that end, I started a tutoring company in college and have enthusiastically embraced every opportunity to teach these last few decades. And reflecting on my lived experience having worked in China since the early 2000’s, I don’t think it’s overly dramatic to say that the two countries have sort of swapped roles. Today, the U.S. may not focus enough on meritocracy and creativity, while China is actively embracing educational reform (to listen to this portion, check out the 31 minute mark).
3. China is the “Next China”
Shaun frequently hears the question, “What’s the next China?” His answer is, CHINA is the next China! He shared a few interesting stats. Folks have cited the slowdown of China’s growth to about 5% a year. Now if China continues to grow at 5% a year, that’s like adding a Thailand + Vietnam economy combined!
He talks about the all-important scale – while Vietnam is fast-growing, it’s still tiny. So the only country that can rival China’s economic growth potential is India, but the per-capita GDP is still only 1/6 that of China. That’s why Shaun believes that come end-2024, China will account for a third of all global economic growth this year. Makes sense – at least for the next few years, China is the “next China.”
To listen to our entire episode, click here 👉 https://bit.ly/460ec2w 👈
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