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China's Progress in Developing Modern Business Practices

Undergoing Historic Changes

I start this analysis of China's business practices by citing my own experiences. Sometime in the early 1970s, I stood at the edge of the New Territories in Hong Kong and gazed into the vastness of undeveloped rural China in the distance. Several decades later, I returned to the same spot and saw in the background the tall buildings of Shenzhen. Since then, I have spent some time as a factory inspector in Quangdong province, working in behalf of a large U.S. company manufacturing products in China.

Thus my view of China is that of a country undergoing a historic transformation. Its economy has been growing more rapidly during the past quarter of a century than any other nation of significant size, at least during modern times. My attitude is informed, surely by reading and listening to others, but also by what I have personally observed.

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