Chinese Business Culture
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This paper discusses some of the financial and ethical concerns that businesses must address when doing business in China. The paper reviews such issues as tax law, intellectual property, the Chinese currency, and importing and exporting in an effort to shed some light on this topic.
From the Paper:"The Chinese currency is the yuan and it has been relatively stable since the late 90s at around 8-yuan to 1 dollar equivalent, sometimes going slightly less and sometimes slightly more than this. This makes the cheapness of labor a major point in China as it is relatively easy to live very well and richly in the country on only about $200US a month.
The foreign company may face increases in value in supply chains if this is not well negotiated beforehand, however, because it is common practice in China to charge foreigners a lot more than Chinese people, even for the basics there may be a significant markup. Even with this markup however the relatively strong value of the U.S. dollar in
relation to the yuan still makes doing business in the country very attractive from a currency perspective."
Cite this Essay:
Chinese Business Culture (2006, April 02) Retrieved November 19, 2019, from https://www.academon.com/essay/chinese-business-culture-64681/
"Chinese Business Culture" 02 April 2006. Web. 19 November. 2019. <https://www.academon.com/essay/chinese-business-culture-64681/>