When I wrote Doing the China Tango, I tried to incorporate a great many of my experiences in China. Some of these experiences were good and resulted in a profitable business relationship. Others were the opposite, and I still have … Continue reading Ceremonial contracts
China’s banks play a significant role in both the Chinese economy and in their economic policy. In fact, commercial banks are the dominant force in China’s financial system, even to the extent of determining pricing. The key characteristic of China’s banking system is what has been referred to by Carmen M. Reinhart, Jacob F. Kirkegaard, and M. Belen Sbrancia as financial repression.3 Financial repression occurs when governments implement policies to channel to themselves funds that, in a deregulated market environment, would go elsewhere. Policies include directed lending to the government by captive domestic audiences (such as pension funds or domestic … Continue reading China’s Banking System
Not all authors have the same writing habits. In fact, most authors have a unique way of approaching the writing process. For myself, I’m also the Chairman and CEO of Thornhill Capital, an international consulting firm, so my day is … Continue reading A day in the life of an author
Last week I was having lunch with a friend of mine in Shenzhen, China when I asked him when he thought he would start seeing private planes flying throughout China, now that the government had approved their use with certain flight restrictions. My friend, who is a Chinese fund manager, told me that he thought the market for private planes may be limited as most wealthy Chinese and government officials now want to keep their heads low. They don’t want to let people know they’re rich. There are two reasons for this, he explained. The first is that China’s new … Continue reading Keeping Your Head Low in China
Just sending my third book off to my publisher, which is owned by British publishing company Pearson PLC, the same company that owns Penguin Radom House, you’d assume that my next book would be about a year or more away. … Continue reading Fourth book coming later this year
This morning, as I was sitting down to write a blog, I intended to give my thoughts on negotiating with the Chinese – always a fun subject. I didn’t have to look far for source material as all I had to do was examine one of the many scars on my back to recall what worked and what didn’t work at the negotiating table. However, as I started to write that blog a good friend of mine called and asked for my advice on working with the Chinese. He’s a sophisticated investor, has invested globally, and has spent the last … Continue reading Dealing with China