Can you name the country with the most rapidly growing population of high net-worth families? May take a few attempts.
Answer: The People’s Republic of China.
The political structure of China is still communism, yet its economy and society have rapidly evolved into a capitalist market growing more quickly than anywhere else in the world.
What does this have to do with security?
More wealth leads to a greater desire for personal security as safety risks grow alongside income. China is on track to become the largest market for private security in the world and will be looking to security industries in places like the United States to inform best practices and market direction. This is where GSIS comes in.
Recently, Mark Sullivan, David Aguilar and I were invited to Shanghai to present private security sector insights to executives in China’s burgeoning private security field. The exchange proved to be comprehensive and far-reaching as those in the room, representative of the larger Chinese private security field, looked to extract knowledge and expertise from the United States’ private security sector–a sector that has had the luxury of developing over many decades of practice and adjustment.
As is the case in so many fields, China can quicken its sector growth by learning what works and what doesn’t. The US’ established, high-functioning private security industry provides the example China’s businesses need as security demands rise. The backgrounds of GSIS’ Principals range from border security and protection, to customs and trade, to venue and dignitary security, to investigation and fraud protection–a combination of experience that can help this budding market thrive as China’s economy continues to bloom.
Today, unlike ever before, global business has roots in China. Ensuring that the country’s private sector can protect itself from threats, physical or otherwise, is in the interest of all economies, everywhere.