How to manage a contract in China.(International section: business credit)

Business Credit, January, 2005 by Schuster, Camille

Since China joined the World Trade Organization in December of 2001, United States exports to China have been on the rise. In 2002, exports increased by 15 percent, and in 2003, they increased by 30 percent. But as American business interests in China increase, the cultural differences of doing business become more apparent. If you are interested in contracting to do business in China, you must be prepared for cultural challenges. Managing a contract in China is not like managing a contract in a country with a developed legal system, enforceable government regulations, and a dependable infrastructure. In the latter countries, you can sign the contract, walk away and know what will happen when. In China, however, managing the contract means something very different....