China’s New Breed of Multinationals Put the Global South First
Western companies risk missing out as their Chinese rivals expand quickly in the world’s fastest-growing regions.
Hangcha Group's groundbreaking ceremony for its new manufacturing base in Chonburi, Thailand, April 16, 2025. Credit: Hangcha Group
For most western corporate leaders, China business today means developing strategies for diverse sourcing that involve both China and other countries, and so-called “China-for-China” localization to compete in its massive market. The more advanced now look to China for innovation and talent too.
What most miss is the speed with which Chinese companies are staking out positions in the markets of the future, the Global South. Beneath the headlines of record Chinese exports and growing
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California-based Jupiter Systems sold high-tech wall screens to U.S. military and government clients. On June 14, The Wire China revealed how Jupiter was sold to a Chinese company in 2020 without the first Trump administration’s knowledge. Now Trump is back and on the case as Jupiter teeters on the verge of bankruptcy.
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