Helping corporate China go abroad
"Do you have a handle on your own management capabilities? Have you analyzed the cultural differences of the two sides? Do you understand the relationship between unionized labor and management in that place? If the other side's engineers resign, are you really going to send people from Changsha overseas, and make the whole company speak Hunanese? If you don't know yourself and know your opponent, then this kind of confidence scares me."
This was Chinese Vice Premier Wang Qishan's response to a request from Xiang Wenbo, president of Sany Heavy Industries, for central government assistance in overseas acquisitions. Sany Heavy's ambitions...
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