By Jeremy Haft
A pioneer stocks the secrets and techniques to making jobs and reaping earnings doing enterprise with China
Is China a hazard to America’s fiscal destiny? simply the other, says overseas businessman Jeremy Haft. China is a boon for company: the potential of an entire life to create jobs, construct worth, and earn cash. All the Tea in China demonstrates America’s overwhelming aggressive virtue over China within the international economic climate. And it highlights the many industry possibilities for corporations of all sizes, in all sectors. China is much and away the quickest transforming into marketplace for U.S. items and providers on the planet.
regardless of the good news, China continues to be some of the most not easy working environments, and it’s effortless to make high priced errors. Haft demonstrates tips on how to keep away from the pitfalls, supplying an industry-by-industry advisor to purchasing from, promoting to, and competing with the chinese language.
The publication can also be full of humorous tales of Haft’s hard-won classes as a China enterprise pioneer. It’s the main enticing, worthwhile ebook but in this vital topic.
Read or Download All the Tea in China: How to Buy, Sell, and Make Money on the Mainland PDF
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Extra resources for All the Tea in China: How to Buy, Sell, and Make Money on the Mainland
We decide to send it via FedEx. On the form, it asks us to value how much the product is worth. We look at each other. Well, this is our ﬁrst piece of business, and we do not want to muck it up. So it’s worth a lot. We put $5,000 on the form. The actual value of the product is about a dollar thirty. Dumb mistake. When the goods arrive in the port of Ningbo, they 42 ALL THE TEA IN CHINA will not be released from customs until we pay several hundred dollars in duties, based on the value of the goods that we declared on the form and what product type it was.
One party will owe money to another, who in turn will owe money to still another; and all three will collapse if one of them defaults. To investigate triangular debt, in addition to contacting the party’s bank, you should contact their principal suppliers. If the party in question is a plastic injection molder, for instance, call up their main resin supplier. Find out if the factory pays for its raw materials on time. Find out how long the factory has been doing business with the supplier. Usually the supplier will be forthcoming with this kind of information, because you are perceived to have deep pockets and could be a source of new and repeat business for them.
We’re tasked with sourcing a plastic molded part that goes into a milk-processing machine. This should have been an easy win, but we underestimate the role that uncertainty plays in even the most routine jobs in China, and how it can cost you everything. We get a sample of the product from the customer and must dispatch it to our China ofﬁce, so that the job can be bid out to a group of factories. My partner and I are standing there with a plastic thingamabob in our hands, puzzling over how best to get it to Ningbo.