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- American CEOs mistakenly believe business relationships can open all the doors they need in China.
- These relationships are referred to by the Chinese word guanxi.
- Guanxi can’t halt China’s growing intrusions, under the guise of security, into the supply chains that have been such a crucial part of the U.S.-China trade relationship.
- President Xi Jinping has already shown a personal willingness to pressure executives to relay his trade intentions to Washington.
As far as Elon Musk is concerned, his trip to China this month went just great. He arrived back in the United States after a meet-and-greet with Wang Qishan, China’s newly appointed U.S. interlocutor. The Tesla, Inc. CEO reflected admiringly on Wang’s knowledge of culture and philosophy, and he claimed "the world has never seen human energy & vigor at such scale" as in China.
Musk’s enthusiasm represents a common reaction from CEOs, from Apple’s Tim Cook to Facebook’s Mark Zuckerberg, after hobnobbing with top-level Chinese leaders. Entrepreneurs almost always walk away from showy, flattering meetings convinced that the Chinese side is sympathetic to their needs and that they can play a pivotal role in the complex relations between Washington and Beijing.
See the rest of the story at Business Insider
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