Dr. Kai-fu Lee is the Vice President, Engineering and President of Google China.
In a recent panel discussion at the Committee of 100 , Dr. Lee shared a prescription for US Companies who want to be better at doing business in China.
1. Embrace the reality that for businesses to succeed in China a local presence is critical - Chinese still prefer US companies - especially those that are in China.
2. Realize that wages in China will eventually reach an equilibrium AND that's good because competition breeds excellence. ( I once depated this issue with the Russian Professor of Communism - okay, another blog entry on another day.)
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