Capitalism in China Called a ‘Work in Progress’
China's increased openness to the global economy means more opportunities for U.S. companies, says Greenberg Traurig's new Shanghai-based partner, Peter Neumann, who spoke last week at a Georgia Tech conference on doing business in China. But he warned that it's important for companies to enter the Chinese market well-informed, because the rules continue to change rapidly. China is still "a work in progress," said Neumann, who has worked in China since 1993. The most common pitfall? Taking shortcuts.
