This past week has been really busy for me as I had a sudden surge in school work and just finished the 6 month process of determining who my future employer will be after graduation this spring. I have decided to take a job with a consulting company in Beijing, and I am really excited about it.
Also, I have been reading allot about the Danone/Wahaha dispute in the 21st Century Business Herald (21世纪经济报）which has been putting out great investigative coverage. It seems Zong Qinghou of Wahaha has set himself up quite the mirror company, complete with enterprises listed in the BVI under the name of his daughter who has an American passport and did her udergrad at USC. By doing this, Zong was able to launder his money and re-invest in China as a foreign enterprise and literally city by city siphoned off business from the JV.
This is why foreign companies contemplating partnerships in China better have one hell of a forensic accounting team and employ 24 hour surveillance on the Chinese management. No wonder there are numerous “risk investment” consulting companies in China such as Kroll, Control Risks, Hill & Associates and Navigant Consulting, I hear their business is booming.
Stay tuned, I will get some interesting Danone/Wahaha translations up soon.