Kent Kedl, greater China and north Asia managing director for global risk consultancy Control Risks, stopped by Asia Society Studios in New York recently to discuss common problems related to doing business in China.
"As business people, our goal is to reduce complexity," Kedl said. "We want to reduce risk by understanding the complexity and then packaging it up so we can identify it. China resists that at every turn."
In the video embedded above, Kedl breaks down the five biggest challenges he sees businesses struggle with in China:
1. Understanding why you're doing business in China in the first place.
2. Learning how to deal with a lack of information.
3. Figuring out the "story behind the story."
4. Being aware of the role of the government.
5. Avoiding generalizations and acknowledging China's regional complexities.
Getting a handle on these issues is crucial for businesses, Kedl said, because "China is for the long haul."
"It's not a nine-month mini project," he continued. "You're going to be there for a long time. It's going to go up and down, and you've got to have the staying power to really succeed there."