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Currently, one of the most popular routes for Chinese visitors to Latin America goes from Beijing to Sao Paulo, Brazil, via Madrid, Spain.

Customers select bracelets at a jewelry store in Suzhou, Jiangsu province. [Photo by Wang Jiankang / For China Daily]

Customers will come to identify us by our local brands in different countries, not just by the company name, he added.

Cusumano: “Yes, in the sense that there’s really almost no limit to what could be built on top of an innovation platform. The other important point we make in the book is that the most valuable companies in the world, and in many ways the most powerful platforms, are really hybrid companies. In other words, they do both. Facebook started out as a transaction platform, essentially just bringing together people who wanted to communicate or share information with each other. We consider that a transaction, even though it may be priced at zero. But Facebook Platform opens up APIs and lets outside companies build specific applications and games, and connect websites that let users do all sorts of things on Facebook, some of which have not been well-controlled. So it’s really adding the innovation platform function to the transaction platform that has made Facebook and some other platforms extraordinarily powerful.”

Cui Fan, a professor at the School of International Trade and Economics of the University of International Business and Economics in Beijing, said investors with global strategic vision will not give up on China, as the country has a huge and increasing market, a complete industrial system, a large workforce and a stable social environment.