American Entrepreneur in China: Potholes and Roadblocks on the Silk Road to Prosperity
72 Pages Posted: 31 Jan 2012 Last revised: 20 Aug 2012
Date Written: January 28, 2012
In many ways, China is the new frontier for entrepreneurship; perceived to be: a logical primary source of economical manufacturing, raw materials, component parts, and as a major end market. China may also represent the most likely future competition for many American industries as well as our major trading partner. Increased commerce between the United States and The People’s Republic of China (“PRC”) demands that U.S. entrepreneurs understand the basic foundation for doing business in the PRC. An increasing demand for United States citizens to engage in commerce, or sit on boards dealing with significant exposure to Chinese developments has also become a reality. A comprehensive and exhaustive treatment of this subject is beyond the scope of this article. However, an identification of some major issues, with suggestions for further research, is attempted. Hopefully, constructive thinking will result from an overview of how conducting business is fundamentally different in the PRC along with an examination of relevant legal and corporate governance issues.
Keywords: Accounting, Banks, Bribery, China, Chinese Communist Party, Chinese Legal System, CISG, Comparative Corporate Law, Corporate Governance, Corruption, Directors, Economic Reg., Enforcement, Entrepreneurship, FCPA, Financial Institutions, IFRS, Judgments, PRC, Securities Markets, Transition Economics
JEL Classification: F02, F23, G15, G20, G30, G32, G34, G38, K11, K12, K14, K20, K22, K33, K40, L20, L50, M13, M14, N25,
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