In this Business English Podcast lesson,we’ll be studying some phrases and vocabulary that you can use to discuss the economy and economic issues, including voicing and reassuring concerns.
The dialog today takes place at Kendal Marcus, a global retailer of up market clothing and accessories. A retailer sells goods to the end customer; accessories are things like jewelry and belts which go along with or “accessorize” clothing. During a trip to Shanghai, Martin, a VP at Kendal’s, is visiting Tony Wu, country manager for China.
From the dialog, it sounds like one of his main goals is to visit second-tier or smaller cities in order to assess Kendal Marcus Chinaâ€™s strategy of expanding their operations into these secondary markets.
Yes, Tony is optimistic about the Chinese economy. Despite inflation and some potential problems (work for farmers, rich-poor gap, creating enough work for the masses), China continues, in Tonyâ€™s view, to have a growing middle class that can buy Kendal Marcusâ€™s products.
Since the growth in Chinaâ€™s middle class is key to Kendal Marcusâ€™s strategy of expanding into second-tier or smaller cities, Martin is concerned about the accuracy of published figures.
Tony mentions that they are conducting their own surveys. On a more subtle level, he mixes negative information with positive information to create the impression of objectivity in his assessment that the long-term prospect for Kendal Marcusâ€™s business in China is quite good.