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Saturday 9 April 2011

International business

Doing business in China



In the past, the key to cracking open business opportunities in China has been working with the protectionist Communist government that has often had anti-import tendencies disfavoring western interests. But those conditions are changing. 

In 2006, China reformed many of their import restrictions, making their market more friendly to imported goods. They have also been more friendly internally to capitalist business models, making it less taboo for their own people to interact with western businesses and adopt their practices. These improved international relations, government reforms, expanding economy and increased foreign investment make doing business in China a potentially lucrative affair. But since China has an ancient culture which has been somewhat isolated from the west, particularly western capitalist business, there are still many differences that come into play in business interactions. 

Doing business in China means more frequent contact with Chinese business practices, and so it will be helpful to understand more about them, including their business culture, business etiquette, meeting protocol and negotiation techniques. This can maximize a company's own interests, as well as those of Chinese businesses and citizens.

INCREASING THE AMOUNT OF BUSINESS WITH CHINA

Since the access to the Chinese market has become bigger, corporations need more often remember them when looking for the next increase in market share. One in eight of the people on the globe live in china, but they represent a much smaller fraction of the current market for goods in western businesses. Increasing marketing and advertising to Chinese consumers could dramatically impact a company's bottom line. Making use of Chinese goods and labor, as it is lower cost and high in quality, can also beneficially impact business. But doing so will mean a growing appreciation of differences in the Chinese consumer and worker that can avoid misunderstandings and miscommunication.

ANCIENT CULTURAL AND RELIGIOUS TRADITIONS THAT STILL SHAPE CHINA TODAY

Confucianism values harmonious interaction, trustworthiness, politeness, and the duty of each human being to another. Some of these values can be seen to be at odds with the perceived impersonal profit motives of the west. Confucians believe that proper behavior through duty, respect and loyalty reflect themselves in all manners of human interaction, certainly including those between employees and between employees and superiors.

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