SYDNEY, July 28 (Xinhua) -- In a change of pace, a senior Chinese academic is in Australia recruiting students for a China-based MBA program to take advantage of a key driver of future growth.
"Higher education, and in particular postgraduate study, is one of the most important pipelines into China and its economy," Cheung Kong Graduate School of Business (CKGSB) associate dean of the MBA program, Professor Li Haitao told a seminar on preparing business leaders for "China's Century" here on Thursday.
"There is an undoubted cultural gap between China and the west, and by narrowing this gap we create opportunities that either might not have been there, or having taken years longer to materialise."
Australian business leaders have consistently argued the nation's Asian capability has been lagging despite being on the doorstep to the world's most important region for growth, a disadvantage as it faces stiff competition from already established service exporters.
"Yes Australia has a very advantageous Free Trade Agreement but Chinese state-owned and private enterprises are very pragmatic in their approach to trade, they will always gravitate towards the best possible outcomes," Li said.
As part of his pitch, Li said to truly understand China's economic transition, there is no substitute to being on the ground and witnessing it in action.
But despite opinion polls showing younger Australians are more optimistic and enthusiastic about closer ties with China, they are less likely to study abroad than their Chinese counterparts.
Recent figures show only 6,700 new Aussie enrolments in Chinese universities compared with over 50,000 Chinese tertiary students in Australia, though the former is growing.
Not fast enough however as in the next 10 years, Australian business will need to be increasingly on the ground servicing the Chinese middle class, rather than selling items from a boat, James Laurenceson, Australia-China Relations Institute (ACRI) deputy director and Professor of Economics, told Xinhua.
"That means (Australian businesses) will need familiarity with the language, business culture and business norms," Laurenceson said, adding having the edge in China will also be a boon for the broader relationship.
"Young Australians are already positive about closer Australia-China ties, and the more they understand China, the more enthusiastic and capable they'll be on deepening those ties."
