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Jim Ritchie

Rethinking How We Do Business with China. Jim Ritchie. Rethinking How We Do Business with China. I’m no expert… beware of those who claim to be! Critical things to know Be clear about your goals and expectations What’s the objectives

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Jim Ritchie

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  1. Rethinking How We Do Business with China Jim Ritchie

  2. Rethinking How We Do Business with China I’m no expert… beware of those who claim to be! Critical things to know Be clear about your goals and expectations What’s the objectives China is moving at the speed of light, expect things will take longer than you think Make sure you have real commitment Understand the role of government Provincial, City, Central Party Talk to those who have dared to go before you To early or to late Talk to those who have dared to go before you To early you can lose your shirt To late and you could Get “serious” advice about FCPA Governed by SEC, not the DOJ Understand what “Yes” means in China Could mean yes, maybe, I’ll think about it, not likely, no Know how to negotiate and be prepared

  3. Rethinking How We Do Business with China Be prepared for an emotional rollercoaster during the process of establishing your beachhead Many will fill your head with dreams of gold Take a long-term view of success Established Vision and direction is filled with excitement Finding your way will surely result in frustration and disappointment….expect it!

  4. Rethinking How We Do Business with China We partnered with a State-Owned company We acquired the 3rd largest trucking company in China We found some “diamonds in the rough” internally Personnel challenges were significant We needed to be prepared to spend significant time in China to protect your investment Be process driven Made some FCPA mistakes early on We went slow in order to go fast It was important to understand the culture… China first, business second

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