Breaking into the Chinese market is riddled with challenges like no other market. U.S. businesses are flocking to China in pursuit of rising earnings. “However, time after time, local entrepreneurs, either with or without the tacit support of the Chinese government, have found ways to fleece American companies bare,” according to an article on the VentureBeat website.
Ed Royce, chairman of the Subcommittee on Terrorism, Nonproliferation and Trade, quoted an influential government official in his published testimony during a March subcommittee hearing: “China’s indigenous innovation policies threaten global intellectual property protections, fair government procurement policies, market competition, and innovators’ freedom to decide how and when they transfer technology.” He also stated “China has a history of promises made, promises broken.”
Caution is in order when doing business with China. The Chinese regime refuses to adjust its currency, which equals job loss in America; thinks nothing of stealing, confiscating, and copying intellectual property; uses reserves of American debt to escalate the Chinese military; and uses the de facto natural resources embargo through its new colonialism to put a noose around the necks of all the world’s economies. Not to mention the government’s well documented, egregious human rights violations.
Perhaps we need to look at the natural resources around the world and fully grasp how many of them are being controlled by China’s “colonial strategy.” I highly recommend a book, Death by China, which gives good insight into the way the Chinese government thinks.
I’m not saying we shouldn’t do business in China. It may be a good opportunity to remind their government of the importance of human rights, good solid business ethics, trust, and not compromising them.