SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : HONG KONG
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: synchro who wrote (998)12/23/1997 12:03:00 PM
From: Richard Tsang  Read Replies (1) of 2951
 
synchro,

It is true that "guanxi" is very important to get things done in China but it is changing fast. I work for a US multinational in Shanghai and was personally involved in the start-up of this wholly foreign owned enterprise (WFOE) back in the days when there was no law to follow on the operation of a WFOE. Lacking of law was the major frustration then. To move forward, it took courage and patience, and lots of reasoning to support what we thought was right. In addition, we hired a government relations person to develop and maintain good "guanxi" with all government agencies. After 12 years, this employee is still with the company but she is often frustrated nowadays because there isn't much for her to do. The lack of law provides "grey" and opportunity for her to perform. Now the grey is getting less and less, she could not get the kind of job satifaction in her current assignment as before. Her job is not getting any bigger and so is her pay. She often comes to me for counselling....but she still thinks her job is very important!

IMO, a system is building up quickly and properly in China and on the right direction. It certainly took external influence to create that momentum, but I think the day when China needed some outsider to tell her what to do is gone.

Have a happy and safe holiday season & GongXiFaCai!

RT

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News