You can disagree with me, but China is the number one world power. China is buying our debt and manufacturing the goods we used all on their own terms. Global companies, financial in particular, are setting up office abroad. This said, it is not always easy doing business with China. Do not think for one minute that the Obama administration and the class warfare he is creating will make America any better or any stronger or bring the companies or the jobs back.
American Superconductor Corp. responded in shock this month when the company disclosed that its largest customer, Chinese wind turbine maker Sinovel Wind Group Co., had refused to accept contracted shipments of turbine components.
But for those familiar with the Chinese view of business contracts, the move was less surprising. “For Western companies, when you sign a contract, that’s the end of the negotiation,” said Aimin Yan, faculty director for the international MBA program at Boston University and a native of China. “From the Chinese perspective, it can be just the beginning.”
The troubles for Devens-based American Superconductor (Nasdaq: AMSC) underscore striking differences between U.S. and Chinese business practices — differences that many people in the United States still don’t grasp, despite the rapidly growing importance of the Chinese economy, according to experts on Chinese business.