Cultural Differences and Wealth
Amsterdam (NL) has been known as the Diamond capital of the world.
Well, at least it used to be an important trading center for diamonds. Until a couple of years back. The market slumped: fewer and fewer people bought.
Until recently. The world economy is getting stronger. The Chinese are making their mark. And they not only look at diamonds, but they also buy as well, according to Gassan, a leading diamond trader in Amsterdam
Diamonds are seen as a status symbol, much more so than in the Netherlands. Status is a Masculine trait, the Chinese do score relatively high on this Hofstede dimension (66). The Dutch are relatively feminine (14).
Plus, according to a Gassan spokesperson, when one Chinese buys, others will buy too! This in turn reflects the collective nature of the Chinese culture (20 on Hofstede´s IDV dimension), whereas the Western Europeans and Americans are relatively individualistic (scores of 70 and higher).
With the right “cultural approach” companies like Gassan Diamonds can probably earn more than they are currently doing.
Cultural differences and wealth on Culture Matters
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About Peter van der Lende
Peter has joined forces with Culture Matters.
Because he has years and years of international business development experience joining forces therefore only seemed logical.
Being born and raised in the Netherlands, he has lived in more than 9 countries of which most were in Latin America.
He currently lives in Atlanta, Georgia (USA) with his family.
You can find out more at https://expand360.com/
Or find out what Peter can do for you here.
His education is in Organisational Psychology and he has lived in the USA, the Netherlands, and currently lives in Belgium.
Chris Smit
- 183 Chinese American Culture with Ken Wilcox - 19 November 2024
- 182 Living in China with Terence Clarke - 29 October 2024
- Embassies and Cultural Competence - 22 October 2024
