Confucius Institute - Opp n R Biz China
Steve and Brook talk about opportunities and risks of doing business with China
April 5, 2019
Steve Xing of Deloitte and Brook Horowitz had a great time at the Confucius Institute for Business London talking on Opportunities and Risks - Doing Business with China. Steve spoke about the opportunities, and Brook spoke about the risks, in particular the risks of bribery and corruption.
Many thanks to Professor Kent Deng for facilitating and Hong Lu, OBE and her colleagues for inviting us and organising.
Brook stressed that nowhere is the difference in cultures more clearly illustrated than in the differing attitudes towards corruption. Although there is a trend towards convergence, the gap is still there, clearly visible in the dozens of FCPA cases involving China.
In order to reduce the risks, more work needs to be done to bridge the gap. Western values and compliance methods cannot just be brought to China without adaptation or explanation.
By the same token, perhaps China, now in globalising mode, could offer some new approaches to doing business with integrity, in particular in the countries it is investing in through the Belt and Road Initiative.
Steve Xing of Deloitte, left and Brook Horowitz of IBLF Global, left.