What makes China so damn fast? What do we mean when we say “China Speed”? #chinasnewnormal #chinaspeed Remark: Made a mistake in name of the 100 meter sprinter SU BINGTIAN, where I said Sun Bingtian. https://en.wikipedia.org/wiki/Su_Bingtian CONTENT 00:50 Can the West keep up with the Speed of China? Yes, but we might need to learn to work as hard as an athlete, think like an entrepreneur and collaborate like friends or family. 01:05 Which examples are used to describe China Speed? We typically will talk about the change of the cities since 1980, the high-speed train network, the delivery speed or technology catch up, such as supercomputers or AI. 02:12 Why do people say China is very slow? The reason has to do with inefficiency of labor or systems, the red tape or bureaucracy, the risk averse mentality of staff and the laid-back lifestyle of many Chinese. 03:32 Is China fast or slow? It is both. Speed mostly depends on the priority or worry of the leader/boss. Slowness mostly is because of lack of urgency. 05:25 Is China fast because of competition? Yes. It’s their mindset like we see with athletes: driven, resilient to pain, hungry for success, passionate, most adaptive, very daring, fierce determination, big dreams and following strict structure. 08:28 Is China speed about being fast? No, it’s mostly about velocity and acceleration. 09:00 Why is China so high in velocity? Many Chinese are extremely goal oriented and therefore they are moving as fast as possible towards their objectives. They do this well, because Chinese are experts in synchronization tasks amongst them, work together in perfect collaboration, great problem solvers, and possessing an almost endless energy to keep practicing. 09:46 Why do Chinese work well in sync? They learn from young age to become expert in one domain and take over from others with other domains 10:10 Why are Chinese so great at collaboration? Although they aren’t always team players to help each other, as they like to compete more, they know very well how to work together in large groups when the leader guides them. This is a result of a more collective mindset that is part of the Confucian culture to care for the team. 10:38 Are Chinese good problem solvers? Yes. As they have to face many problems in their lives, they have learned to be very smart or inventive to tackle problems head on and with no complex strategy. 11:28 Why are Chinese so fast? A lot has to do with practice. If you do things over and over again, you become faster and faster. This we know well from top sport. 12:04 Why does China always seem to accelerate? The acceleration of China or Chinese, or speeding up, is a combination of the ‘speed of execution’, ‘speed of decision’, speed of change’ and ‘speed of trust’. Chinese are relying on these four gears to speed up. 12:43 How come China can execute so fast? This is because they think often in parallel, not in series. They can work on different problems at same time, and trust that the puzzle will get completed when they execute each part well first. 13:34 Are Chinese fast decision takers? Yes. Unless, something is not important, when they see an opportunity or threat, they dare to make bold decisions. Many Chinese are risk takers when there is an opportunity or treat, and risk averse when the opportunity is unclear. 15:32 How come Chinese are so agile? The driving force for their agility has a lot to do with being used to change. China is a country that has known constant change, and so agility is becoming part of their DNA. 16:53 Is trust or distrust between Chinese an accelerator? Because China is a low-trust society between people who don’t know each other, creating trust and friendships is critical to do business. Therefore, once trust is set, the speed of trust is initiated to speed up. No NDAs or contracts needed when a handshake is worth the same. 19:16 How can we speed up like China? The best way is to look at velocity first. That means think like an athlete that aims to win gold. Be goal oriented by means of lots of practice, problem-solving mindset – call it pragmatism, work in groups and in sync with each other – the total of the players is larger than the sum of the players. Once the goals are clear and everyone is driven towards them, you need to accelerate by increasing our execution process – even when boring, dare to make bold decisions or change a decision when an opportunity comes along, and finally spend more time on trusting people than systems. When dealing with China, trusting the Chinese you work with, is the only way to keep up with the speed of China. Website: https://www.pascalcoppens.com/ ABOUT PASCAL COPPENS: Website: http://www.pascalcoppens.com/ Linkedin: https://www.linkedin.com/in/pacovision/ Youtube channel: null BOOK - CHINA's NEW NORMAL http://www.pascalcoppens.com/shop