A Chinese tourist takes a break in front of a Starbucks coffee shop at Yu Garden in Shanghai, China on July 15, 2002. (AP Photo/Eugene Hoshiko)
If you think Wall Street’s been scary lately, take a look at Shanghai’s stock market. The Shanghai Composite Index is down 46 percent since last October. The Shanghai Daily headline again today: “China shares nosedive… panic selling reigns.”
It takes a strong stomach to invest and do business in China. But a lot of Americans are doing it. And there is money here.
This hour, live from Shanghai: American business players in China on what it takes to crack the People’s Republic…
Has your company planted its flag in China? If so, how’s it going? Are you worried your job is headed for China?
You can join the conversation — both on the air, by calling 1-800-423-8255 between 10am and 11am ET, and here online by posting a comment below. -Tom Ashbrook
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Guests:
With us from Beijing is Tang Jun, President until 2004 of Microsoft China, which under him had the fastest sales growth rate among Microsoft’s 82 global subsidiaries. Until this month he was President of Shanda Entertainment, a $340-million publicly traded entertainment company. Today he was named CEO of New Huadu, a $6 billion conglomerate with business in retail, mining, real estate and finance. His pay package is estimated at one billion Chinese yuan — $140 million — a record compensation package in China.
Joining us in our studio in Shanghai is Tom Doctoroff, Northeast Asia Director for JWT, one of the largest US-based advertising and marketing firms. He worked at JWT in Hong Kong from 1994-1998, and has been based in Shanghai since 1998. Some of the company’s clients in China include Ford, Kraft and Avon. He is author of “Billions: Selling to the New Chinese Consumer,” and blogs at The Huffington Post.
And with us from Boston is Malcolm Riddell, president and founder of the boutique investment bank RiddellTseng, which specializes in foreign direct investment in Chinese real estate. His clients have included MetLife, CIGNA and Fidelity Investments. He has lived and worked in China and Taiwan for more than 15 years. Before founding RiddellTseng in 1988, he was a CIA case officer in China Operations.
You can listen to the show live on WBUR starting at 10am ET. And we’ll have the full audio posted on this page later today.
Links:
How Microsoft Conquered China
Fortune magazine follows Bill Gates to China and describes his celebrity status there, how he attained it, and what it means about business in China.
FT.com: China
Business news on China from The Financial Times.
By the Book (Economist.com)
The Economist magazine offers recommendations for the best recent books on business in China.
Doing Business in China (World Bank Group)
The 2008 report from the World Bank Group’s DoingBusiness.com, which provides “objective measures of business regulations and their enforcement.”
The China Law Blog
China Law Blog focuses on law and business in China, but its topics range from China’s developing legal system to its society, culture, and current events. The site has won accolades from The ABA Journal and Business Week.
The Brand Preferences of Affluent Chinese (PDF)
Master Card’s detailed 2008 report on popular brands in China, with statistics and advice for Western companies.
China Briefing
The website of China Briefing magazine, based in Hong Kong, “covers legal, tax and operational issues from the position of the international investor.”
Tags: Shanghai
