China has risen from being third world country with 500-million people living in absolute poverty to one of the two largest holders of foreign currency reserves in less than 30 years. It is now a global giant and one of the three world superpowers, together with the US and EU. Its strategic planning and unhindered growth mean that it will continue to grow and develop, spreading its influence all over the globe. The question is, should we be preparing ourselves and our children to be able to work with the next superpower? Will the impact of the rise of China reach as far as the tip of Africa and will our children need to be prepared to engage with this foreign nation?

Here are a few facts about the magnitude of China’s reach already. China has three time the population of Europe and five times the population of the US, combining third world feudalism, a massive industrial base and first world elite. Globalization is what is helping China move forward to the extent that it is. It has overtaken the US as the largest recipient of foreign investment and overtaken Japan as the world most trade oriented nation and it buys up the leading-edge technology companies it needs to keep it ahead.

China’s 300 000 millionaires will make China the third largest consumer of luxury goods behind Europe and the US within a decade. In 1980 China was a post-cultural revolution wasteland with 500-million people living in absolute poverty, now there are only 50-million surviving on a dollar per day and the country no longer accepts international aid to reduce poverty.

China and Japan are the two largest holders of US currency reserves. Shanghai has more skyscrapers than New York. It is being built into the world’s largest metropolis, dwarfing New York, London or Sao Paulo. There are now more than 100 mid-size Chinese cities with over a million residents.

In Africa, China now ranks right behind the EU and the US as Africa’s third largest investor, with $50-billion in trade. Its voracious appetite for natural resources mean it has taken a lead in oil and gas production from Angola to Algeria to Sudan, importing more oil from Africa than from Saudi Arabia. China has become the main trade partner for a number of African countries providing cheap manufactured goods.

With all this evidence to the fact that China’s influence is spreading the world over, it is my view that all businesses, learning institutions and families should be thinking about things they need to do to prepare to be able to engage with Asian countries in the future.

Businesses should get over their aversion to dealing with Asian companies and instead start sourcing skilled people from that region and those who come from there.
Learning institutions should possibly think of running courses on Asian culture and work practices as well as Asian language courses.

Families that want to give their children the best possible education should perhaps skip over Latin and French classes in favour of Asian language classes instead.

My bet is that those who prepare now will reap the rewards later.

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