February 15, 2018
The year of the dog for globalization
The Year of the Dog begins this week which means, among other things, this is the season when western companies fall over themselves by slapping zodiac animals on their products in hopes of appealing to Chinese consumers. Gucci dog purse, anyone? At the same time, digital payments in China continue to accelerate. Last year, the Chinese New Year tradition of ‘hong bao’ – where cash-filled red envelopes are given as gifts – saw 46 billion electronic transfers. Yes, billion.