July 22, 2013
Is China now Inhospitable to the Foreign Business Community?

Before he was detained by police in Shanghai on July 10 in connection with the GlaxoSmithKline bribery investigation, Peter Humphrey warned of the treacherous business environment for foreign firms trying to navigate China’s opaque business climate.
"There is one industry that is booming in China like everything else but doesn’t often get written about — it’s called fraud," wrote Humphrey, a British consultant, former journalist and past president of the Rotary Club of Beijing, in a 2008 magazine published by the British Chamber of Commerce.
"It can be in your supply chain, among vendors, distributors, employees and joint venture partners. Or it can be among the people who you use to transact an acquisition or a new partnership or a securities deal," he added. Humphrey’s company, ChinaWhys, bills itself as “international business advisors with eyes in China, walking multinationals through the labyrinth of opportunity, risk and unfamiliar cultural environment.” But now he has become the first foreign businessman detained in a widening bribery scandal.
Read more. [Image: Jason Lee/Reuters]

Is China now Inhospitable to the Foreign Business Community?

Before he was detained by police in Shanghai on July 10 in connection with the GlaxoSmithKline bribery investigation, Peter Humphrey warned of the treacherous business environment for foreign firms trying to navigate China’s opaque business climate.

"There is one industry that is booming in China like everything else but doesn’t often get written about — it’s called fraud," wrote Humphrey, a British consultant, former journalist and past president of the Rotary Club of Beijing, in a 2008 magazine published by the British Chamber of Commerce.

"It can be in your supply chain, among vendors, distributors, employees and joint venture partners. Or it can be among the people who you use to transact an acquisition or a new partnership or a securities deal," he added. Humphrey’s company, ChinaWhys, bills itself as “international business advisors with eyes in China, walking multinationals through the labyrinth of opportunity, risk and unfamiliar cultural environment.” But now he has become the first foreign businessman detained in a widening bribery scandal.

Read more. [Image: Jason Lee/Reuters]

2:25pm
  
Filed under: China Business Corruption Bribery 
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  18. modeschina reblogged this from theatlantic and added:
    GlaxoSmithKline has admitted that they’ve used bribes or other illegal practices, and this person was one of their...
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  20. quoms reblogged this from theatlantic and added:
    so essentially like lobby-based political corruption in the us, except because this is happening in china it’s...
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