An encounter with a face of Chinese capitalism

The article presents information on China's transformation into its own kind of open, modem, market-oriented society a change that is one of the world's great adventures. It is an exciting, inspiring, but very complex and arduous road. The West must make changes too, including changes to the powerful images of China. An outstanding difference is that, although American businesspeople must adapt to major marketplace changes, Chinese people are building a whole new system as they simultaneously do business. Managers in state-owned enterprises are moving away from operating schools, hospitals, and recreation halls to keep too many employees happy toward developing a customer-oriented, lean organization willing to form joint ventures with companies around the world. Just determining the value of the assets they provide the joint venture is a new, formidable task. The author says that what impresses him about businesspeople in China is their genuine openness. Managers state publicly that the company needs cooperative teamwork but that they had no idea how to develop it.