The survey also included the US, the UK, France and Germany.
India came in top place, with 75 per cent of respondents in the market saying they trusted Indian businesses, and China came second with 60 per cent. Respondents also noted they trusted private sector businesses the most.
India came in top place, with 75 per cent of respondents in the market saying they trusted Indian businesses, and China came second with 60 per cent. Respondents also noted they trusted private sector businesses the most.
Alan VanderMolen, president of Asia-Pacific for Edelman said the results were due to “a high degree of national pride in the accomplishments of business”.
Business sectors that received the majority of votes included technology and banking in India, and food, retail, healthcare and biotech/life sciences in China. The Chinese findings come despite a series of product scandals, most notably last year’s tainted milk affair.
Levels of trust in the Government were also high in both China (78 per cent) and India (56 per cent). However, trust for media and non-governmental organizations (NGOs) was significantly lower.
President and CEO of Edelman Richard Edelman highlighted that trust is now a tangible in both corporate reputation and product marketing. “Cost is only a marginally more important factor than trust in determining people’s product choices, with 53 per cent saying that in the past six months they switched brands for a lower cost and 45 per cent saying they switched because they lost trust,” he said.
