The Golden Age of Foreign Business in China
To all appearances, 2014 was a great year to be an expatriate manager in China. Twenty-five years after the country started re-engaging with the capitalist world, people had the cash and appetite for all things foreign. Wristwatches, bicycles, and television sets were the trinity of middle-class aspirations no more: Chinese people wanted Rolexes, BMWs, and multiplex cinemas featuring Hollywood blockbusters. The omnipotent Communist Party’s curious new leader, Xi Jinping, unhesitatingly tackled the chief concern of foreign investors: corruption. Not only did shady demands from government officials drop dramatically almost overnight—it seemed to happen without the expected economic ...
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