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I remain unconvinced, all of these are cases of Guanxi, which is incredibly important among Chinese. It's not so much about wealth, but about connections, espec
by gridlockd 7y ago
I remain unconvinced, all of these are cases of Guanxi, which is incredibly important among Chinese. It's not so much about wealth, but about connections, especially political ones. You definitely want to be on the good side of certain Chinese officials, if you want to do business there.
Even though such cases may exist, you're not likely to "fall" on a $400k job after blowing your inheritance on a startup. While good connections certainly help with creating wealth, wealth by itself doesn't necessarily help with creating good connections - especially if that wealth is now gone.
- perl4ever 7y agoI don't have any special knowledge of how this works in Chinese culture or others, but I'm inclined to think, like the quote alludes to, that it's not just a Chinese thing - that just shapes the conventions for how it's done, and maybe in this particular case clashed with American conventions such that it became a problem for JP Morgan.