Quote: (China's) "vision is a bold one – to create a domestic sport industry worth $850 billion. This is market-making on an epic scale, massively exceeding even the most generous estimates of the global industry’s current size. Given China’s economic and industrial successes over the last two decades, achieved through its model of state-led capitalism, the global sport industry should, therefore, anticipate some profound changes to its structure and dynamic taking place in the coming years."
Quote: Quote: "China’s formula for state-led capitalism is one that has already been tried and tested in other industrial sectors. However, before the likes of stadium designers, sponsorship agents and merchandisers begin to anticipate a commercial bonanza, it is worth them noting the socio-cultural peculiarities of Chinese business. Market-entry is scrutinised very carefully while the role of guanxi in business relationships is as evident in sport as it is in other industrial sectors. It is worth noting too that, while Xi has established the country’s vision, it is his entrepreneurial lieutenants who are plotting the course of his revolution."
"... industrialists Wang Jianlin and Jack Ma standout as being focal points for China’s sporting ambitions. Wang is chairman of the Dalian Wanda property group, which has recently purchased a 20 per cent stake in Spain’s Atletico Madrid for US$52m and Infront Sport and Media for $1.2 billion. At the same time, Alibaba owner Ma has acquired 50 per cent of the Asian Champions League’s first Chinese winners, Guangzhou Evergrande, for US$192m, and recently set-up the Alibaba Sports Group. Wang has already stated that he is intent on building a global entertainment axis that stretches from Beijing through Madrid to Hollywood."
Xi Jinping, Sergio Aguero and Prime Minister David Cameron during Xi's recent UK visit. Image from Twitter
Read more at http://www.policyforum.net/footballs-bamboo-revolution/