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Credibility of Business Negotiations between the U.S. and China - Essay Example

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Summary to essay on topic "Credibility of Business Negotiations between the U.S. and China"
The economic rise of China as one of the super powers in the economic, human, political and military interactions among the nations of the world cannot be taken lightly (Nanto, 2006) as well as the fact that China is the world's largest economy. China's globalization and rise as a major economic power is now being felt by major superpowers such as the United States and Europe…
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Credibility of Business Negotiations between the U.S. and China
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Download file "Credibility of Business Negotiations between the U.S. and China" to see previous pages... Business negotiations in China are challenging, particularly for international businesses because of the very intricate business practices of the Chinese. For one, networking is different in China where the government is almost always involved such that the range of decision makers is wider, and the process more collaborative.
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The Chinese culture promotes loyalty and conformity to family structures, where agriculture is regarded as the root of society and commerce as the branch. Their Confucian principle on the importance of society being organized under a benevolent moral code is both prosperous and politically stable, as well as their reverence for scholarship and kinship.
Concepts such as guanxi (personal connection), renji hexie (interpersonal harmony) and chiku nailao (endurance, relentlessness) are practices or the Chinese way of doing business. Before business can be done, the Chinese believe that trust should be established first. Trust is built through guanxi and renji hexie, concepts that are ingrained in Chinese societal relationships both at home and abroad.
Chinese spend a large amount of effort and time in establishing personal relationships, often through mediators known to both parties, as an antecedent to any business dealings. This is more often than not mistaken by a Westerner as a frustrating delaying tactic, but considered very important for the Chinese since this process develops trust between the parties, paving the way for the relationship of both parties to be strengthened and deepen beyond mere acquaintances to something resembling family.
The Chinese have a thorough, in-depth due diligence before consenting to any agreements, looking at their numbers and gathering more information. Usually, the average time it takes to do deals in China, from initial contact to contract signing may be from 12 to 18 months, possibly longer for institutional deals.
The concept of yin and yang, where finding the way (the Tao) is more essential than finding the truth (the means is more valuable than the end supports the above-mentioned practices. And the Chinese are prepared to work hard to reach this compromise, especially since they are famous for their work ethic, instilling it from childhood. The distinction however is that the Chinese take diligence one step higher- to endurance (chiku nailao) because for them, relentlessness and endurance are deemed far more honorable in society than talent.
B. U.S. view of credibility in business negotiations
Free trade leads to higher economic growth, better living standards and more and better job opportunities. The United States has been the forerunner in economic development, trade relations, etc. maintaining its status as a superpower.
Perhaps this position has been achieved in part through the Americans' shrewd business negotiation techniques especially in dealing with their business interests in the global arena. Among the cultural traits that Americans are known for in negotiation is that they are meticulous about punctuality, getting things done when promised and not wasting time. They are known for their impatience to get down to business after a few pleasantries.
During negotiations, Americans are ...Download file "Credibility of Business Negotiations between the U.S. and China" to see next pagesRead More
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