We recently came across a list of the top ten mistakes businessmen make in China. It was written by the President of a consulting company based in Los Angeles that assists small to medium sized companies in their Asian and China strategies.
What struck as us about the list, which we found useful as general guidance, is how many of the top ten mistakes apply to doing business anywhere, even in the US.
Of course, some entries, such as failure to use Chinese translations of contracts as the legally binding document, and failing to inspect goods at the factory in China before they’re shipped, are specific to international transactions, but even these concerns would be useful in dealing with any foreign business, not just those in China.
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