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A very interesting headline story in the Wall Street Journal, on how foreign business is increasingly wary in doing business with China. So many cross currents happening here, it is hard to even begin to touch the surface of the topic... but a lot of this should be of no surprise. There has been a reason every foreign investment in China is done by joint venture and since the time frame of foreign executives (especially of the American kind) is very different then the Chinese, what has been a 'win-win' in the near term (10-20 years) is going to potentially create some major stresses down the road. For now, multinationals have been able to shed costs (Western labor) at a rapid clip, creating massive wins for the executive class while (to gain access to the China market) being forced to share know how, technology, and the like. Eventually the Chinese are going to find these Western companies "inconvenient" to keep around....
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