Earlier this year, French supermarket Carrefour partially exited from China market due to their failure to compete with other local and international supermarket stores . This is a shock to me.
Around 20 years ago when I first visited Shanghai and went to a Carrefour store, I was shocked. There were many people in the lines and there were more than 20 checkout lines. I never saw that scale in Hefei or my hometown. When people paid 300-500 Chinese Yuan ( 40-60 US dollars) for their good just for one purchase, I spent 150 (20 US dollars) on my meal at college per month. In the past, each of their stores made a profit of more than 100 million Chinese Yuan year. However, they did not adapt to the e-commerce and competitions from other local stores, they had to sell their stores.
Then there is another news today: China Takes Lead in Fortune Global 500. https://fortune.com/2019/07/22/china-takes-lead-in-fortune-global-500-ceo-daily/ . This is the first time in the Fortune Global 500 list.
The world is changing and never stops. How can we prepare ourselves for such kind of changes? How can we prepare our children for such changes when they grow up?