Risky Business in China: A Guide to Due Diligence by Jeremy Gordon (auth.)

By Jeremy Gordon (auth.)

Risk is a big cause that businesses fail in, or fail to go into, China. choked with case stories, this specific ebook demonstrates how accurately utilized due diligence can't merely lessen company probability in China, but additionally supply very good company intelligence to aid negotiations and enterprise relationships.

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The sooner the better. , “Siwei”). A deal that was heralded as cross-border deal of the year when it was done in 2012. But a year is a long time in business … and the deal soon unravelled, exposing fraudulent accounts, and a startling lack of due diligence for a deal that not only involved a lot of money, but which was also central to the company’s strategy in one of the world’s most important markets. According to a Reuters report,44 Caterpillar discovered “deliberate, multi-year, coordinated accounting misconduct” at Siwei soon after the deal was completed.

A group (another Chinese characteristic) of five prospective clients were on site to sign the contracts and buy properties that would secure them investment visas in Portugal. However, they suddenly got up, left, and bought similar properties from a competitor the next day. The reason was later explained. Nobody from the seller’s management team had thought to 23 How Risky Is Business in China? attend the contract signing, and the investors felt uncomfortable with the deal due to loss of face. Hierarchy is also important in China, and has its roots in Confucianism.

In other cases, it may be that a project relies directly or indirectly on the support of a key government department or official. What is the risk to the project if the relevant official moves on (or is removed without notice)? Should a lack of a broad base of support among relevant officials be identified as a risk factor, a refined government communications plan might need to be developed as mitigation. The risk of officials, or senior executives in state-owned enterprises, being suddenly removed is not an academic one.

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Risky Business in China: A Guide to Due Diligence by Jeremy Gordon (auth.)
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