By V Romeschchandra, Asian Conversations
No longer mere low-cost production centres, China and India are leading the Asian buying spree. Say hello to a new giant, the Asian consumer.
The growing march of the Asian consumer – led by behemoths China and India – is going to change the global balance of power and corporate interactions.
There is a new megatrend in the global economy. It is the rise of the Asian consumer, particularly in China and India, but also elsewhere in the region. It is a story that could play out over at least half a century and promises to have as dramatic an impact on the world as the rise of the American consumer in the post-war era of the 1950s. It will have huge implications – for companies (both within Asia as well as foreign multinationals), for investors and for governments, not to mention the consumers themselves.
On the 10th of February a new day dawns for all born under the “Year of the Water Snake” and the Lunar New Year celebration begins.
Three thousand years ago before the celebration of Christmas, the Chinese began to tell a mythical tale of an animal race to claim their places in the Chinese horoscope.
By Molly Rydon
Walking through a busy department store on my way to work, I find myself tuning out from the daily reminders of Australia’s role in the Asian Century, cycling endlessly in my head. Instead I focus on the music and I recognise Gangnam Style, the latest trend to hit Australia’s music scene. That’s when it hit me. This cultural gap that has continued to obstruct Australia’s relations with its Asian neighbours: could Gangnam style be the answer?
As of 27 December 2012, the Youtube video of Gangnam Style had been viewed over one billion times, making it the most viewed video to date. Its catchy tune and even catchier “giddy-up” dance moves has burgeoned an interest in Asian pop, never before seen in Australia. Bars and pubs in Melbourne once showing rock groups and other artists are now regularly booked by Korean-American rappers, Chinese indie-rockers and Mongolian hip-hoppers. But by far the greatest thing about this growing interest is that it appears to span many groups and cultures. As Caroline Sullivan notes in her review of another South Korean K-Pop group to hit the Western charts, Big Bang, K-pop is proof that music recognises no boundaries.