Historically a nation opposed to foreign investment, the Chinese economy has recently shifted into a modern, market-oriented system that caters heavily to international business. Today, the country is a major player in several important industries such as manufacturing, food processing, petroleum and textiles.
Now, business leaders across the world eagerly turn their eyes towards China and notice a country that relishes its newfound power and the attention that comes with it. Such change doesn’t come without its share of obstacles - with thousands of years of history come deep-rooted traditions, some of which test the boundary of moral principles as they are understood in the western world. Bribery and corruption, for example, are not just common, but each runs rampant throughout the nation’s business practices. In order for Western companies to enter China’s booming market, its first necessary to understand the unique cultural and legal processes involved in conducting business in the country.
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