3 ms·
> America has the same business culture; what's saving (most of) us is our better-functioning regulatory culture. The difference in America is it's not good bu
by ars 7y ago
> America has the same business culture; what's saving (most of) us is our better-functioning regulatory culture.
The difference in America is it's not good business practice to hurt your own customers. i.e. reputation matters. You mess up just once, and it takes years for your brand to recover (this includes non-brand brands, like store brands or generics).
In China it seems like there's a never ending supply of new names constantly.
- ppseafield 7y agoSometimes the backlash can be catastrophic in China though. https://en.wikipedia.org/wiki/2008_Chinese_milk_scandal https://en.wikipedia.org/wiki/2008_Chinese_milk_scandal
- sanxiyn 7y agoReputation is just as important in China.