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James McGregor

One Billion Customers: Lessons from the Front Lines of Doing Business in China (Wall Street Journal Book) Hardcover – October 11, 2005

by James McGregor (Author)

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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.

Print length

336 pages
Language

English
Publisher

Free Press
Publication date

October 11, 2005
Dimensions

6.25 x 1.25 x 9.5 inches
ISBN-10

0743258398
ISBN-13

978-0743258395
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Editorial Reviews

From Publishers Weekly

The promise and perils-mostly the latter-that Western businesses face in China's huge but chaotic market are probed in this illuminating if not quite reassuring primer. Ex-Wall Street Journal China bureau chief McGregor presents a series of case studies from capitalism's Wild East, including a rocky joint venture between Morgan Stanley and a Chinese bank; the rise and fall of a Chinese peasant turned billionaire smuggler; Rupert Murdoch's travails in bringing a satellite TV network to China; and a muck-raking Chinese financial journalist's battles with both government censorship and the private media's cozy relationships with advertisers. He caps each chapter with gleanings of wisdom ("assume your procurement department is corrupt until proven innocent") and pointers on such topics as which bribes are ethically acceptable (expenses-paid junkets to America "with generous opportunities for tourism and relaxation") and which are not (suitcases full of cash). McGregor writes with the confidence of an old China hand, occasionally lapsing into generalities about Asian "shame-based" cultures, but generally treating the Chinese businesspeople he profiles with the same sympathy and insight he accords Westerners. Still, the picture he paints of the Chinese economy is a daunting one, ruled by over-mighty Communist officials, bribe-hungry bureaucrats, Byzantine regulations and a murky, cut-throat business culture structured by personal and family ties. Westerners contemplating a plunge into this shark tank will profit from McGregor's cautionary tales.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

From Booklist

McGregor has spent nearly two decades as a journalist and business executive in China. China, as he notes, is crashing its way onto the world scene as a rapidly growing economic powerhouse, and the challenge confronting the nation is learning to manage the large, complex organizations that will be necessary if the country is going to continue its ambitious climb to the top of the economic ladder. McGregor posits that the sudden transition from the Cultural Revolution in the 1960s and 1970s to the scramble for wealth in the 1980s and 1990s has left a deeply scarred society experiencing an economic and social upheaval. To reach the next step in its economic evolution, he believes that China must find ways to go beyond some of the lingering cultural, social, and psychological barriers that will soon impede that progress. The struggle now is to discover the management principles and techniques that will harness and focus the immense energy and intelligence of the Chinese. A detailed case study of an unparalleled rise to power. George Cohen
Copyright © American Library Association. All rights reserved

Product details

Publisher ‏ : ‎ Free Press; Reprint. edition (October 11, 2005)
Language ‏ : ‎ English
Hardcover ‏ : ‎ 336 pages
ISBN-10 ‏ : ‎ 0743258398
ISBN-13 ‏ : ‎ 978-0743258395
Item Weight ‏ : ‎ 1.3 pounds
Dimensions ‏ : ‎ 6.25 x 1.25 x 9.5 inches

Best Sellers Rank: #1,188,685 in Books (See Top 100 in Books)
- #102 in International Accounting (Books)
- #283 in Global Marketing (Books)
- #2,417 in Chinese History (Books)

Customer Reviews:
73 ratings

About the author

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James McGregor

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James McGregor is an American author, journalist and businessman who has lived in China for more than 20 years. He is a senior counselor for APCO Worldwide and a professional speaker and CNBC commentator who specializes in China's business, politics and society. In addition to his China books, he is also author of the 2010 report "China's Drive for 'Indigenous Innovation' - a Web of Industrial Policies."

From 1987 to 1990 McGregor served as The Wall Street Journal's bureau chief in Taiwan, and from 1990 to 1994 as the paper's bureau chief in Mainland China. From 1994 to 2000, he was chief executive of Dow Jones & Company in China, and he also became a vice-president in the Dow Jones International Group. After leaving Dow Jones, he was China managing partner for GIV Venture Partners, a $140 million venture capital fund specializing in the Chinese Internet and technology outsourcing.

In 1996, McGregor was elected as chairman of the American Chamber of Commerce in China. He also served for a decade as a governor of that organization. He is a member of the Atlantic Council, Council on Foreign Relations, National Committee on US-China Relations and International Council of the Asia Society. He serves on a variety of China-related advisory boards. For more information visit his Web site, www.jamesmcgregor-inc.com.

Customer reviews

5 star		64%
4 star		21%
3 star		10%
2 star		3%
1 star		2%

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Top reviews from the United States

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Entertaining and Enlightening

Reviewed in the United States on November 14, 2013

Verified Purchase

The book is a good primer for anyone looking to conduct business in China. The book itself is getting dated, even the second edition, and the Chinese are becoming more Westernized in their business interactions. However, it cannot be understated that any attempt by a Western business executive to show respect for the traditions, history and culture of China will go a long way to building guangxi. While many of the customs and the banqueting are going to vary in intensity as you move out of Shanghai, Shenzhen and Beijing to the other cities that are less Westernized, the fundamental cultural elements of respect, face, influence and dealing with local influencers are foundationally universal.

McGregor's background as a journalist shows in his writing style, which is extremely easy to read and follow, as well as his skillful storytelling. The relatively long chapters are easy to read, and his approach of having a "who's who" guide to the players in the beginning of the book is useful for keeping everyone straight. His blending of personal interest, history, current practices and real challenges made an entertaining read for this business traveler while on the high speed train from Shanghai to Hongzhou.

A worthwhile read before heading to China on business.

One person found this helpful

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maria nahlik

Very true, well structured, interesting readng.

Reviewed in the United States on September 30, 2016

Verified Purchase

Reading this book is important for anybody who wants to understand how China really works. An update would be interesting. The last ten years have opened China even more towards the west, and, although much of the fundamental typology described in the book still prevails, the world is getting (for the better or the worse) more and more uniform. The book is packed with interesting facts experienced first hand by the author, it is easy to read, captivating and well structured.

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Dan

A fantastic introduction to the business culture off China

Reviewed in the United States on August 27, 2008

Verified Purchase

This book should have been called "One Bill Partners," as there is very little about market research in the book. Rather, "One Billion Customers" is a series of highly readable case studies discussing businesses and joint ventures that went right and wrong in China. Jim's been in China for many years, speaks Chinese, and is able to distill political, economic, and cultural factors into witty advance, such as

"If your CEO wants to do business with China in order to turn around his business, lose his visa."

A brilliant book. Highly recommended.

Helpful

Mark Beckford

The big "Little Red Book" of doing business in China

Reviewed in the United States on February 13, 2013

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I met the author in person and he's a very interesting individual who has some very good perspectives on the dynamics of China business. His book is written in a "case-study" format: each chapter is a story about a company and how it went well or horribly wrong. There is a bullet point summary at the end of each chapter summarizing all the chapter's insights. Very good reference for international executives who work and/or negotiate with Chinese business and government leaders on a regular basis.

One person found this helpful

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Interesting reading but may be outdated by now

Reviewed in the United States on August 4, 2013

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This was an interesting book but I'm afraid the info is outdated by now. I actually don't have it anymore. I bought it for the office I was working at in 2005 and left it there with a colleague when I left to study Chinese for a year. That colleague moved on to another job and I never returned to that office after my sabbatical was over, so not sure where it is now. Wherever it is, I hope it is doing someone some good!

2 people found this helpful

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Tera I.

Great book for the topic,

Reviewed in the United States on February 6, 2014

Verified Purchase

As far as I can tell this is one of the top books on understanding the nature of doing business in China. Since I am a partial owner now involved with trade in China this has been a real eye opener in understanding the "lay of the land." It also interestingly provides a great understanding of modern cultural connections that might effect business but regardless are interesting.

Helpful

Ti

Students get this book

Reviewed in the United States on April 17, 2017

Verified Purchase

Great book for understanding Chinese consumer base. It is also a great reference book for academic classes.

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J Risner

If visiting China take this one along

Reviewed in the United States on December 30, 2015

Verified Purchase

Great read for anyone interested in China generally-not just business people. Several chapters read like a novel, but with direct lessons. The Xinhua chapter would be hilarious if it wasn't so important.

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S. leonard

Excellent and highly readable

Reviewed in the United Kingdom on February 22, 2010

Verified Purchase

This is a brilliant, and extremely readable study not just of business in China but the Chinese. It should, therefore, be read not just by people wishing to do business in China but anyone with an interest in modern China and its development.

One person found this helpful

Gabriele Rossi

Prefetico per il 2005, fa riflettere se letto nel 2015

Reviewed in Italy on November 9, 2015

Verified Purchase

Scritto prima al'inizio del boom cinese del periodo 2009-2014, rimane interessante ed attuale.
Da leggere per capire che i problemi di fondo della Cina sono rimasti, mentre sta scomparendo l'euforia di trovare un miliardo di consumatori per i prodotti delle aziende americane ed europee.

*** letto su kindle ***

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Amazon Customer

Five Stars

Reviewed in Canada on February 3, 2017

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Arrived in great shape

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