Beijing tries to push beyond ‘Made in China’ status to find name-brand innovation
Quick: Think of a Chinese brand name.
Japan has Sony. Mexico has Corona. Germany has BMW. South Korea? Samsung.
And China has . . . ?
If you’re stumped, you’re not alone. And for China, that is an enormous problem.
Last year, China overtook Germany to become the world’s largest exporter, and this year it could surpass Japan as the world’s No. 2 economy. But as China gains international heft, its lack of global brands threatens its dream of becoming a superpower.
No big marquee brands means China is stuck doing the global grunt work in factory cities while designers and engineers overseas reap the profits. Much of Apple’s iPhone, for example, is made in China. But if a high-end version costs $750, China is lucky to hold on to $25. For a pair of Nikes, it’s four pennies on the dollar.
