If you’re still wondering “is cultural knowledge important for foreigners doing business in China?”, then take a look at this survey of international executive recruiters grading different parts of the world on their merits for expatriate assignments. (Hat tip: China Economic Review Editors’ Blog). Two things struck me: 1 – China is the only country highlighted as being both popular with expatriates and difficult for them to succeed in. And 2 – over half of the respondents cited a lack of “cultural fit” as the most common reason why expatriates fail.
Go figure. China’s fast, exciting and growing at a miraculous rate. Where others say challenge, I say opportunity!