It is well known that with a population of 1.3 billion people, China's market is moving quickly toward surpassing those of North America and Europe combined. Companies from the United States and around the globe are flocking there to buy, sell, manufacture, and create new products. But as former Wall Street Journal China bureau chief turned successful corporate executive James McGregor explains, business in China is conducted with a lot of subterfuge -- nothing is as it seems and nothing about doing business in China is easy. Destined to become the bible for business people in China, One Billion Customers shows how to navigate the often treacherous waters of Chinese deal-making. Brilliantly written by an author who has lived in China for nearly two decades, the book reveals indispensable, street-smart strategies, tactics, and lessons for succeeding in the world's fastest growing consumer market. Foreign companies rightly fear that Chinese partners, customers, or suppliers will steal their technology or trade secrets or simply pick their pockets. Testy relations between China's Communist leaders and the United States and other democracies can trap foreign companies in a political crossfire. McGregor has seen or experienced it all, and now he shares his insights into how China really works. One Billion Customers maximizes the expansive knowledge of a respected journalist, well-known businessman, and ultimate China insider, offering compelling narratives of personalities, business deals, and lessons learned -- from Morgan Stanley's creation of a joint-venture Chinese investment bank to the pleasure dome of a smuggler whose $6 billion operation demonstrates how corruption greases the wheels of Chinese commerce. With nearly 100 strategies for conducting business in China, this unprecedented account combines practical lessons with the story of China's remarkable rise to power.
James McGregor is well known and respected in Chinese business, political, and media circles. A Mandarin speaker, he has served as a key adviser to both the U.S. and Chinese governments. As The Wall Street Journal's China bureau chief following the 1989 Tiananmen Massacre, the chief executive of Dow Jones' China business operations during much of the roaring 1990s, and a venture-capital investor during China's dotcom boom, McGregor has negotiated every avenue of the labyrinth that is business in China. He is also a former chairman and a decade-long governor of the American Chamber of Commerce in China. He is a senior counselor for APCO Worldwide, and is member of the Council on Foreign Relations; National Committee on US-China Relations; International Council of the Asia Society; and serves on a variety of China-related advisory boards. He and his family live in Beijing.
"McGregor illustrates the dangers and allure of the Chinese market." - The Washington Post
"Colorful and cautionary, offering sound prescriptions for Westerners." - BusinessWeek
"McGregor is a keen observer and raconteur." - USA Today
"[McGregor's] book is the best to date...Our little nugget of wisdom on the China market for those wanting to do business there? Read this book." - Time
"James McGregor's knowledge of how business is done in China is extraordinary. As a journalist and businessman, he witnessed firsthand China's remarkable transformation in the space of two decades from a backward country to a rising economic power. With his extensive hands-on experience in China and his formidable storytelling skills, his book, One Billion Customers, is filled with valuable insights and advice for both knowledgeable business persons and ordinary readers interested in gaining a better understanding of China's rapidly developing market economy." - Henry Kissinger
"Help[s] the rest of us understand the labyrinth of Chinese deal making." -- Fast Company
"One of the best books of 2005." -- Barron's
"This book should help foreign executives avoid some of the pitfalls." -- Financial Times
"McGregor sees beyond the normal reasons for China's rise" -- CBS News
"Chock-full of concrete tips about how not to lose your shirt in China." -- The Spectator