In 2011, Disney Resorts broke ground on the outskirts of Shanghai for a new theme park, scheduled to be fully operational by 2015. In fact, new parks are opening in cities across China, and by 2020, analysts expect theme park attendance will double to more than 200 million each year. What's fueling the trend? And will foreign companies like Disney find a way to remain authentic while appealing to Chinese consumers?
Published: February 05, 2013 Oliver Wyman's Scott McDonald on the Middle East's Risks and Challenges for Development and Governance
The Middle East continues to see conflict unleashed by the Arab Spring. But there is growth, and regional executives surveyed by global consultancy Oliver Wyman registered confidence in their governments and the economic opportunities at hand. Reflecting on the Arab World's unique dynamic of business enterprise despite persistent risk, Oliver Wyman's new president, Scott McDonald -- who grew up in the Gulf -- tells Arabic Knowledge@Wharton that while the region still faces monumental challenges, it has shown remarkable progress as well.
Published: January 22, 2013 Slippery Negotiations: The Give and Take of Oil Contracts in Foreign Countries
When oil prices spiraled much higher in global markets between 2003 and 2008, the governments of several oil-producing nations responded by seizing the local assets of independent oil companies that had contracted to operate in their territories. What kinds of contracts between the governments of oil-rich nations and international oil companies have been the most effective in minimizing that risk? And how can contracts be structured to benefit both local governments and foreign investors? Recent Wharton research provides some answers.
Published: November 27, 2012 The Return of CNOOC
When its US$18.5 billion bid for California's Unocal Oil Co. collapsed in 2005, the China National Offshore Oil Corporation (CNOOC) became a poster child for the political perils of the U.S. approval process for foreign investments. Now, during a U.S. presidential election where China is a lightning rod, CNOOC has launched a high-profile comeback. This time, it is betting on a different outcome for its proposed US$15.1 billion acquisition of Canadian oil company Nexen. If approved, the deal will mark the largest overseas acquisition yet by a Chinese company.
Published: October 16, 2012 China's Underground Race for Shale Gas
China is a world leader in technically recoverable shale gas -- natural gas trapped underground in shale formations. The Chinese government and public and private sector firms are working to develop the industry in the country, spurred on in part by the need to make China less dependent on energy imports and to cut down on its carbon emissions. To catch up to the meteoric rise of the shale gas industry in the U.S., however, China will have to navigate a host of technology, infrastructure and public policy challenges.
Published: August 21, 2012