CULTURE AND LANGUAGE
Another problem facing China's outsourcing companies is their lack of competitiveness in exploring the U.S. and European markets.
While the United States and Europe make up about 80 percent of the world's outsourcing market, and Japan accounts for about 10 percent, more than 60 percent of China's outsourcing business comes from Japan, according to the Beijing-based Essence Securities.
Apart from being an English-speaking country, India's biggest advantage over China is that it has a culture, both economic and political, which is much more closer and compatible to that of Western countries, said Ye.
This can be reflected by the fact that China's software companies lag far behind the Indian in providing outsourcing services to U.S. and European financial institutions, Ye explained with an example.
"This is mainly because India has almost the same financial system as the United States and Europe, which China does not," Ye said.
However, as China becomes more and more globalized, the English language skills of college graduates will improve and its culture will evolve, but it will take a long time before China can seriously challenge India's dominance in serving Western countries outsourcing needs, he said.
Another problem facing China's outsourcing companies is their lack of competitiveness in exploring the U.S. and European markets.
While the United States and Europe make up about 80 percent of the world's outsourcing market, and Japan accounts for about 10 percent, more than 60 percent of China's outsourcing business comes from Japan, according to the Beijing-based Essence Securities.
Apart from being an English-speaking country, India's biggest advantage over China is that it has a culture, both economic and political, which is much more closer and compatible to that of Western countries, said Ye.
This can be reflected by the fact that China's software companies lag far behind the Indian in providing outsourcing services to U.S. and European financial institutions, Ye explained with an example.
"This is mainly because India has almost the same financial system as the United States and Europe, which China does not," Ye said.
However, as China becomes more and more globalized, the English language skills of college graduates will improve and its culture will evolve, but it will take a long time before China can seriously challenge India's dominance in serving Western countries outsourcing needs, he said.
