In the Asian Century, China is clearly one of the most important economies to consider, and most business leaders around the world are seeking to take advantage of this market in one way or another. However, there is a risk that while many experienced exporters have taken a strategic approach to the Asian region, many newly internationalising companies are missing out on one of the best opportunities available; Japan. The questions that business leaders should be asking are; Where are the opportunities in Japan? and how does the Japanese market compare to the Chinese market?
When was the last time you heard a business leader suggest that they were going to target Asia, and Japan would be the key market of entry? It would probably be a while. Australian companies still do business with Japan, but new business is not growing as fast as it probably should be, and perhaps that is down to the besotted nature that Australia and the various federal, state and local governments have had with China. Its hard for Japan not to be swamped and overlooked in favour of its bigger East Asian neighbour. But is this a fair comparison?