Agony of number 3
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Who would understand the agony and irony of sitting pretty at number 3 better than the dragon? The People’s Republic of China is all set to surpass Germany (if all goes well, by the end of this year) and become the third largest economy in the world, after USA and Japan. So, where’s the agony, you ask? Well, here’s why Hu Jintao and team would be buried in anguish. Despite the Chinese economy growing at a mind-blowing 11.9% per annum, as opposed to USA’s tepid 3.2% and Japan’s equally insipid 2.2%; China is way below the economic superpowers in the global sweepstakes. Even Germany, which is growing at 2.7%, is yet to be overpowered by the dragon. Compared to the others (plagued by slow growth), China is growing at breakneck speed, yet lags behind the biggies because of the historical dvantage that an America, Japan or Germany enjoy. And even as Hu Jintao writhes in misery at the inherent unfairness of it all, honchos in corporate boardrooms across the world, sit mulling a similar dilemma. Be it Motorola and Sony Ericsson in handsets; Ford, Nissan and Honda in four-wheelers; Apple and AMD in the field of information technology; across verticals, the story stands true. Market leaders and immediate followers play the one-upmanship game; while the third, fourth and fifth players, despite boasting equal or better growth rates and comparable product quality and marketing initiatives, sit on the fringes, eyeing the coveted crown.
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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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