So, Jim, what did you know about doing business in China before you made your first trip there?
Very little, actually. These days there's a lot of literature and advice out there.
I had heard about the principle of Guanxi before I went to China,
but I hadn't really realised how important a part of business culture it was.
What is Guanxi, exactly ? It refers to relationships or connections with people
that are built on trust and have been developed over a long time.
These relationships are based on shared experience, people operating in a similar field,
and often also on the exchange of gifts or favours.
But if you're an outsider, that must make life very difficult.
You don't have a shared background as such.
That's right.
You don't have those networks and for that reason you're gonna have to be patient,
because it takes time to develop them.