One of the key speakers of the 10th edition of the Creative Industry Summit was the young promising Author, Zak Dychtwald! His speech about how China is far from being a copycat was, by all means, beneficial and enlightening.
Zak is the author of “Young China: How the Restless Generation Will Change the Country and the World”. The book discusses Chinese millennials and their potential as people who are strivers and dreamers. Zak Moved to China after graduating from Columbia University and relocated back to New York City where he became the founder and CEO of a think tank and consultancy named Young China!
We sat down with Zak during the summit to discuss what his findings mean to the Middle East.
How do you think China will influence the future of the Middle Eastern region?
China is the largest impact on any outside actor. It’s present as a market, investor, collaborator, and more. In the future, their influence will surpass that of any other actor if they already haven’t.
What do you think about the Egyptian-Chinese relations?
China is increasingly becoming a strategic partner to Egypt. With the Belt and Road Initiative for the trade route, Egypt will have an increasing opportunity to deal with the economic powerhouse. China is an alternative to the west as an investor; they have another way of doing business but they’re more flexible in some ways.
They are driven by economic motives and are always down for mutual dependency. The more countries are dependent on China, the safer they are. China is considered the biggest investor in the Middle East, but not the other way around, making the Middle East more dependent on China.
Will the young Chinese by interested to invest in the Middle East?
They have fewer reasons not to. A lot of stereotypes about the Middle East region is wrong and negative, but with the rising awareness, these stereotypes decrease.
What do you think of the language barrier in doing business with the Chinese?
There are two main obstacles when dealing with the Chinese; language and culture. We grew up watching English movies and studying English, so the west always has this advantage. However, the younger generation studies English and are more ready to deal with the outside world.