While the bad news about Europe’s economy never seems to end, the good news about China’s economy keeps on flowing. It is an economic juggernaut that most of the World wants to take advantage of and the UK is no different. This week, Chancellor George Osborne hosted Wang Qishan (vice-premier), and his Chinese equivalent, to talk offshore currency markets, demonstrating the importance of China to UK’s economic recovery.
So, how are you using China’s progress to boost your career?
This week’s Anglo-Chinese meeting may actually be something of a starting point. The Chancellor is proposing that London be an offshore centre for trading of renminbi, the Chinese currency. As a global financial centre, which is uniquely placed to trade with the Far East and the US in the space of one day, London has the same advantages for China as it does for any candidate looking for a job in finance. While London has this time advantage, it is not alone in vying to be a trading centre for the Chinese currency.
Hong Kong, which has already seen a pilot project implemented, and Singapore are also vying for this lucrative market.
Both these areas have benefited from the recent Chinese economic boom and both hold advantages for prospective job candidates. At Bayley Needham, we’ve seen the growth of these markets over many years and recently opened offices in Singapore to allow experienced European candidates to take advantage.
The truth is that Singapore, as well as Hong Kong, have shallower pools of talent to choose from than in Europe and the UK. As a result, both the experienced and inexperienced can take advantage and climb up the corporate ladder. If you’d like to see what’s available right now, look at our online job search.
While Singapore and Hong Kong both provide opportunities to candidates, no-one should ignore the fact that there are still jobs available at home. Yes, the jobs market has shrunk in London. However, experienced candidates in the right areas can still find jobs.
The truth is that China, isn’t going away anytime soon. In fact, it will only rise in prominence. Candidates can seek a new challenge by looking to places like Singapore and Hong Kong that are feeding off the fruits of China’s growth. Equally, they could try to take advantage of China‘s influence in London.
Whatever they choose, all candidates should be swatting up on the role of China to ensure they’re as knowledgeable as possible in job interviews at home or abroad.