In their new book, "The Next China Is Still China: The Insider's Guide to Winning in a New Era," Joe Ngai, a senior partner and chairman of McKinsey & Company Greater China, and Nick Leung, point out that despite the current softness in the Chinese consumer market, the ongoing real estate downturn, and supply chain diversification, China's dominant position in global manufacturing and its investment in frontier technologies are key factors. Ngai states that multinational corporations' current disappointment is a result of the contrast with their market share dominance in China over the past 20 years. To win in the long term, companies need to invest in China to maintain relevance in its vast consumer market and, in turn, enhance their ability to compete with Chinese companies in other countries.