As spring semester progresses, most students are putting even more efforts into finding a job or internship. Those who will graduate in August are thinking about a career path after graduation. For students from China, there are a few things to think about – for example, are there better job opportunities for you in China? Where is the country’s economy going? What sector has a good growth potential?
The China Outlook 2016 report published by KPMG helps us learn more about the trends in China’s economy. There is the emergence of a 2-track economy. The basic manufacturing sector shows decline but the services sector has a strong growth potential. This trend has been evolving in the past few years and became even more pronounced in 2015: almost 90% of China’s increase in GDP came from services.
Even if you have not done anything with China yet, there is a good chance that as you start your career, you will be working with business partners in/from China. China is expected to continue being the largest contributor to world GDP (in purchasing power parity terms) and is expected to account for nearly 20% of world GDP by 2020 (Compare this to 14.9% of the contribution to the world GDP by the U.S.).
For students who focus on finance and want to work in investment: where will your future investors be coming from? Many of them will be coming from China. The country is focusing more on investments made in developed economies, as well as along the “belt road” (China’s One Belt, One Road, OBOR) initiative. North America is among locations where the relations, trade, and overseas direct investments are expected to continue to grow.
What does that mean for Carey students?
- First, if you want to learn more about China and build your network with colleagues in China, this is a good time to start.
- Second, multinational companies will be looking for more talent: people who received a great education, can work in a multi-cultural environment, speak more than one language, and have understanding of both “Western” culture and Chinese culture, norms and traditions.
Are you going to be among that future talent?