Visit their facilities. Talk to their employees, clients and competitors. A good partner does not guarantee success, but a bad partner ensures failure. The rapidly changing Chinese market often presents excellent short-term opportunities, and American firms should not be afraid to avail themselves of an opportunity that may disappear in a year or two. Be Flexible. . .
China is a unique country.
The Chinese legal and regulatory regime can force firms to find creative solutions to business problems, but China is large enough and growing rapidly enough to be worth some flexibility. . . . Despite what the pundits say, you do not have to be in China now and China isn't going to fall off the map anytime soon. Know what your bottom line is. The Chinese market is changing so rapidly that the idea that you must be in China today to compete in fifteen years is rubbish. Sometimes being out of the market is better than losing money in the market.