When we, as Westerners, view time, we view it as linear – from today, through tomorrow, and into future. It’s sequential. We begin a task and finish it before we begin another. It’s culturally what we’ve been taught, what we understand, and … Continue reading An alternate Universe: How the Chinese View Time
Until a little more than 50 years ago, China was a hierarchically based society where your class or status was determined by your ability to accumulate wealth and influence others. This was reflected in ancient Chinese society, during the time … Continue reading The Formation and Influence of China’s Middle Class
In performing our due diligence of smaller companies, we sometimes run across peer-to-peer lending (P2P lending). It’s a concept that wasn’t prevalent when we started in China in 2003, but it’s since become a significant source of financing for small companies who can’t obtain bank loans as banks tightened their credit policies and focused their lending efforts on larger companies and state-owned enterprises. Peer-to-peer lending is a fast growing financial segment that first began in China in 2006. In P2P lending an intermediary, or microfinance company, connects lenders and borrowers for a fee, ranging from 1% to 4%. Lenders, seeking … Continue reading Peer-to-Peer Lending in China