In an ever-changing business climate, the depth of mutual understanding is important.
I clearly remember when I joined CBC Shanghai in 1994. (At the time it was ChuGai Boeki Co., Ltd., the Shanghai Representative Office.) In those days the company was not very global-minded. Our main business was to export cheap Chinese raw materials to Japan, Europe and the U.S.A. and in return to import products to China from those markets.
Later, China began a series of economic reforms, and the economic power of the nation grew rapidly in the 2000s. Conventional business styles lost favor and it became more difficult to maintain traditional business models.
Thus, business styles and ideas in China have experienced drastic change. Under this radical economic and social evolution, the most essential point for business success is how deeply we can develop a mutual understanding of each other's cultures and traditions.