Brand China to benefit partner UAE

▶ Its rise in global value is a result of economic alliances

Brand America is being challenged by China’s rising star, according to a survey by consultancy Brand Finance.

Donald Trump’s presidency is having an impact on the United States’ image and perceptions of its global leadership role are being adjusted by his statements, which could potentially result in policies favouring protectionism, tighter immigrantion and opposition to climate change accords. Meanwhile, China is seeking a greater global role and is embracing further economic openness as it seeks to cement its economic might.

As the world’s No 1 and No 2 economies jostle for brand power, China is gaining pace, with its nation brand value growing 44 per cent year-onyear in 2017, or 20 times faster than the pace of the US.

Although China’s nation brand value of US$10.2 trillion is half of that of the US, it is still the fastest growing nation brand of 2017.

It is no surprise that China is eyeing pole position. It is no longer just a country manufacturing copycat products. It is an innovator in its own right and is home to global brands such as e-commerce major Alibaba, real estate company Dalian Wanda, and telecom firm Huawei.

China is adopting an ambitious political and economic strategy, the Belt and Road Initiative by leader Xi Jinping

China is adopting an ambitious political and economic strategy, the Belt and Road Initiative that aims to mimic the economic prosperity of the Silk Road. The brainchild of Chinese leader Xi Jinping, the initiative aims to connect the countries along the old silk road through maritime and land linkages and economic co-operation. The Middle East is part of this initiative and it sets to gain from China’s brand prominence.

A country like the UAE, which counts China as the second biggest trade partner, is one beneficiary of China’s economic ambitions and every time China’s brand gains value, its partners share a piece of the pie. The UAE itself saw its brand value growth increasing 24 per cent to $594 billion this year to rank No 2 after Singapore and Switzerland on the Brand Strength Index, as the country’s diversification strategies paid off.

The UAE has major brands of its own to be proud of on the world stage – Emirates Airlines, Nakheel’s Palm Islands and the Burj Khalifa to name a few. The UAE’s brand is only going to get stronger as the country embarks on further initiatives to diversify its economy.