Communication between Chinese and Westerners can often result in misunderstandings. There’s been more than one businessperson who’s thought they’d heard one thing from their Chinese counterpart, when in actuality they’d been told another. Unless you have a good interpreter who … Continue reading The Lack of Unequivocal Answers in China – Soft No’s and Soft Yes’s
The Chinese character is the oldest continually used system of writing in the world, its early use dating back almost 5,000 years. Since that time it’s gone through a long period of transformation before it evolved into its present day form. For most of us, a Chinese character is indecipherable, its appearance more akin to a Rorschach test than the written word. Nevertheless, it’s evolved into the basis for a language that’s used by one-quarter of the world’s population. Perhaps the earliest documented use of Chinese characters are the oracle bone inscriptions. Oracle bones are pieces of shell or bone … Continue reading The Evolution of Chinese Language and Characters
Humility is looked at differently in China than in many other parts of the world. In China it’s been a part of the culture for thousands of years. China is a collectivist society which stresses the inter-dependence of individuals within that society and the cohesion that follows. The focus is on the community. Western countries, in contrast, are individualistic. Members are more self-reliant and set their own goals. The focus is on us as an individual. It’s important, especially when conducting business in china, to recognize the existence of humility and how to react to it. Culturally, the Chinese carry … Continue reading Humility in China
Cultural differences between Westerners and Chinese often cause a great deal of misunderstanding, both in business and in social situations. Take, for example, queuing, or standing in line. Westerners are used to orderly lines. That’s just the way it is, first-come, first-served. It works well in our society and we generally take it for granted. For anyone who has traveled to China, however, queuing takes on a whole new meaning. I can recall standing in a line for a train ticket at the station in Jinan and seeing people, without a second thought or moment of hesitation, come straight to … Continue reading Queuing in China
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
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
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
The population explosion within China became most prevalent around 1949 when the Chinese Communist Party (CCP) came into power. The CCP was against birth control and also the use of contraceptives. Mao Zedong wanted the population of China to grow. … Continue reading Part II: Bridging the gender gap in China – too many single men!
It’s not uncommon in China to have women serve as CEOs, CFOs, or occupy any management position within a Chinese company. When we work with companies to help them adopt more sophisticated accounting and corporate governance procedures, for example, we … Continue reading Part I: Bridging the gender gap in China – Women come out of the shadows and prosper in present-day China
As you know I am currently working diligently to bring you my latest book! My current working title is “Doing the China Tango II – advanced studies” and as time allows I will continue to bring you more sneak peaks! … Continue reading Sneak Peak from my newest book in the works!