This chapter adopts a practical approach, focusing on the effective management of risks in the “new era” for businesses operating in China. The ever-evolving larger environment has led to a significant transformation in the nature of risks faced by companies in China over the past decade. Unfortunately, many foreign companies are not adequately prepared to address these emerging risks, which puts them at risk of encountering unforeseen challenges. Since China's declaration of entering a new era in 2017, char-acterized by consumption-led growth, innovation, territorial integrity, and a proactive role in addressing global challenges, the ramifications of this shift have had an impact on foreign companies operating in the country. Among the various risks that have emerged, three particularly challenging ones are heightened national pride, economic nationalism, and sporadic antiforeign sentiments. As China experiences a surge in national pride and a growing sense of economic nationalism, foreign companies must navigate a more complex and sensitive operating environment. The rise of consumer nationalism, triggered by patriotic sentiments and a desire to support domestic businesses and products, has created unique challenges for foreign brands. Moreover, occasional antiforeign sentiments arising from territorial disputes, historical tensions, or controversies can further complicate the business landscape.

This chapter provides a comprehensive risk management discussion while placing specific emphasis on examining significant instances of consumer nationalism in China over the past five years. It aims to offer practical strategies that could have been implemented by companies to effectively manage such risks. To assess companies’ resilience levels, a scale is proposed based on Shimp and Sharma's Consumer Ethnocentrism Tendencies Scale (CETSCALE) and the Consumer Ethnocentrism Extended Scale (CEESCALE). By analyzing major consumer nationalist actions in China, this chapter sheds light on the specific challenges that foreign companies have faced in this evolving landscape. It explores instances where consumer ethnocentrism has influenced consumer behavior and preferences, leading to shifts in brand perception and consumption patterns. Understanding the underlying factors that contribute to consumer nationalism is crucial in formulating effective risk management strategies. Drawing on the insights provided by Shimp and Sharma's CETSCALE and CEESCALE, this chapter proposes a resilience assessment scale. This scale aims to measure companies’ ability to navigate and withstand the challenges posed by consumer nationalism.