Is Europe more worldly in business?

Scott Tong Sep 18, 2009
HTML EMBED:
COPY

Is Europe more worldly in business?

Scott Tong Sep 18, 2009
HTML EMBED:
COPY

TEXT OF STORY

Bill Radke: An annual survey just out ranks the top brands in the world. Coca-Cola was number one again in the BusinessWeek-Interbrand ranking. It’s followed by IBM, Microsoft, GE — all of them American names. But that’s worldwide — if you go to China, it’s European brands doing well. From Shanghai, Marketplace’s Scott Tong reports.


Scott Tong: Financial brokerage CLSA ranked the top hundred brands in China. The highest-ranked multinational was Finland’s Nokia at 4, way ahead of American competitor Motorola at 54. France’s Carrefour leads Wal-Mart in big-box stores. And Germany’s Adidas outranks Nike. Is there a built-in European edge?

Retail consultant Paul French at Access Asia thinks European firms think more globally because they have to.

Paul French: I think it’s just been a historical accident of geography that European countries are small, and in order to expand, successful companies have to go abroad at a very early stage.

By contrast, American companies have a huge market at home to occupy their time. He’s quick to say this is not a cultural story; it’s not that European people are somehow more worldly and open-minded.

French: Europeans, believe me, can be just as isolationist as Americans can, and quite spectacularly so.

CLSA’s brand rankings in China are dominated by Chinese companies. Where they’re seen as weak – and foreign brands are more popular — are consumer electronics, cosmetics and fashion.

In Shanghai, I’m Scott Tong for Marketplace.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.