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Spotlight holds less than 15 percent," says Videla. "Still, many business lead- ers realize that if China becomes as big a player in the global market as many expect, they must establish a presence there to win a share of a very large market." IESE operates its China study Students in IESE's Global Executive MBA visit Volkswagen's Shanghai facility. EMBAs Go to China To understand rapidly evolving economies, students and faculty must see the changes firsthand. Thirty of IESE's Global Executive MBA students recently completed a two- week module in Shanghai, which included a tour of Volkswagen's manufacturing plant in that region. Like many global executives, these executives possessed a great deal of international work experience before enrolling in the class, but few had direct experience with the Chinese market, says Pedro Videla, an asso- ciate professor of economics who accompanied them to Shanghai. Videla wanted them not only to tour businesses, but also visit local markets, interact with vendors, and network with expatriate executives now living in China. "It's impor- tant that students see for themselves how fast China and other emerging economies are changing," Videla says. "They must see not only how China's businesses work, but also 72 BizEd NOVEMBER/DECEMBER 2006 what its daily life is like." Videla especially wanted his stu- dents to visit Volkswagen, which has been in China since 1985, a time when China was just starting to open its economy to the global market. Students learned how the company is adapting to China's transition from a labor-intensive economy to a capital-based, techno- logically driven economy. In addition, Volkswagen, once one of the only car manufacturers in the country, now faces mounting competition from newer arrivals. "Eight to ten years ago, Volkswa- gen held more than a 30 percent share of the automobile market. Now, as competition for China's expanding middle class grows, it module through a relationship with the China European International Business School in Shanghai. The school's objective mirrors that of many business schools, both inside and outside China, that are integrat- ing study of the Chinese economy into international curricula, says Videla. To stay on top of global development, he says, faculty must make regular visits to regions that promise to be increasingly impor- tant to the global economy, such as China, India, Russia, Brazil, and Africa. Schools also must create and continually update case studies on businesses in these economies. Citizens in China's rural areas "ITS IMPORTANT THAT STUDENTS SEE FOR THEMSELVES HOW FAST CHINA AND OTHER EMERGING ECONOMIES ARE CHANGING." —Pedro Videla, IESE are still struggling, Videla empha- sizes. But in China's metropolitan centers, new highways, building developments, and investments are rapidly changing the landscape. Glob- al investment in China is already 40 percent over its gross domestic product, and its economy is grow- ing at a pace of 30 percent per year. China's business student popula- tion is steadily growing to meet its increasing demand for skilled exec- utives. Many of today's MBAs from outside China also may end up living and working in China, says Videla. It's up to business schools, he adds, to let them know what to expect once they get there. ■ z JOSEP SANFELIU