Guanxi used to be a key word when foreigners came to China to do business, including business women Fredy Bush, the founder of Nasdaq-listed Xinhua Finance, a successful deal in the tough media industry. Wealth editor Wei Gu explains for the WSJ why the now-jailed tycoon could not survive now times have changed.
China Weekly Hangout
Foreign firms have a hard time in adjusting to the fast changing times in China, where consumers and government rules become more important than guanxi, the connections with the powerful. In the China Weekly Hangout on January 30, 2013, panelist Richard Brubaker of Collective Responsibility and Andrew Hupert, expert on conflict management in China, discussed the changing playing field for foreign companies. Moderation: Fons Tuinstra of the China Speakers Bureau. Including references to Apple, Mediamarkt, Foxconn and many others.