China has been in the headlines lately for the ongoing acceleration of its capital outflows and concerns over the reliability of its reported economic data. As various businesses and investors hastily adjust their forecasts and expectations, to me, this period of uncertainty represents an opportunity for U.S. companies: To take the time to learn, reflect, and consider what their China strategy should be. (I share specific strategies for how to approach a China strategy in part two of this post.)

But first, doing business with — or in — China requires understanding nuances that go beyond the stats and typical headlines. Until now, most entrepreneurs and commenters have been so focused on the obvious market size opportunity that they often forget the less obvious reason to study China: That there is much to learn from, not just about, Chinese companies. This includes everything from redefining how we think of innovation and how internet companies can monetize beyond advertising revenue to lessons on how startups can scale in a hyper-urban environment…

Source: Mindsets for Thinking about Innovation In — and Competition from — China – Andreessen Horowitz