The New Silk Road: Secrets of Business Success in China Todayby John B. Stuttard
The People's Republic of China has made such enormous strides toward liberalizing its economy over the past decade that it is now the world's second largest recipient of outside investment after the United States. With the recent signing of the landmark China/U.S trade agreement, it is only a matter of time before China becomes a member of the World Trade
The People's Republic of China has made such enormous strides toward liberalizing its economy over the past decade that it is now the world's second largest recipient of outside investment after the United States. With the recent signing of the landmark China/U.S trade agreement, it is only a matter of time before China becomes a member of the World Trade Organization. Yet, in some very important ways, Chinese customs, practices, and values remain as alien to Western business thinking and practice as they ever were. As many a hapless expatriate manager has discovered, gaining a foothold in the vast Chinese market can be an uphill battle on a slippery slope of tradition, conflicting objectives, bureaucratic wrangling, ever-shifting laws and regulations, and regional differences. Yet, as the stories chronicled in this insider's guide to doing business in China demonstrate, it is a battle that can be and is being won. The New Silk Road is based on extensive interviews conducted by John Stuttard, former Chairman and CEO of PricewaterhouseCoopers China, with business leaders who have many years of experience with the country. They include the Chairman and CEO of American International Group, Hank Greenberg, and the heads of China operations of ten other global corporations-ASIMCO, Bayer, Johnson & Johnson, Lucent Technologies, Novartis, Shell, John Swire & Sons, Unilever, United Technologies International, and PricewaterhouseCoopers China. It features a series of lively narratives in which these experts share their insights into and observations of all the important aspects of doing business in China. In their own words, they share the important lessons they've learned about everything from making sense of, and marketing to, the patchwork of strikingly different regions that make up China, to building trust and negotiating with the Chinese. Drawing on their hard-won experiences, they explain how to find and motivate Chinese managers and cope with the different business styles you are likely to encounter-from the conservative and distrustful bureaucrat at one extreme to the overly aggressive cowboy entrepreneur at the other. They weigh the pros and cons of forming a joint venture versus establishing a wholly owned foreign subsidiary in China. They provide advice and guidance on how to navigate the complex and ever-changing body of Chinese laws and regulations under which foreign businesses must operate. And, perhaps most important, they share their reflections on the critical intangibles of Chinese life, and the ways in which the Chinese people's keen awareness of their 5,000-year history impacts virtually every aspect of doing business in that country. John Stuttard weaves these experiences, as well as his own and that of PwC China, together to form a highly authoritative business guide. The long-awaited insider's view of doing business in China, The New Silk Road informs you of the pitfalls and tells you what you need to know to succeed in the twenty-first century's great new business frontier.
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Meet the Author
JOHN B. STUTTARD is a Senior Partner in PricewaterhouseCoopers. From 1994 until 1999, he was Chairman and Chief Executive Officer of PricewaterhouseCoopers China. Operating from Beijing, Shanghai, Guangzhou, Shenzhen, and Dalian, he built PwC China into the largest professional advisory firm in the country. In his 32-year career with PricewaterhouseCoopers, he also worked with the U.K. Government's Cabinet Office "Think Tank" advising on privatization, and for his services to Finnish industry was made a Knight First Class of the Order of the Lion of Finland.
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