Mind the Gaps: Singapore Business in China

Contents

© 2005 Institute of Southeast Asian Studies, Singapore Contents Foreword by Stephen Lee vii Preface ix About the Authors xii CHAPTER 1: SINGAPORE’S CHINA TRAJECTORY 1 Introduction 1 Overview of Singapore Investments and Trade in China 3 Singapore-China Investments 3 China-Singapore Trade Structure 7 Singapore in Liaoning and Zhejiang 9 Liaoning 11 Economy 12 Infrastructure 16 Zhejiang 17 Economy 17 Infrastructure 22 Positioning Singapore in Liaoning and Zhejiang 23 Summing Up 27 CHAPTER 2: WHAT BUSINESS PEOPLE SAY 29 Introduction 29 Singaporeans in the Constellation of Foreigners 31 Relative Degree of Foreignness 33 Time 34 Space 36 Consequences of Distance 36 © 2005 Institute of Southeast Asian Studies, Singapore Differences between Mainlanders and Singaporeans 39 Contrasting Behaviour Patterns 40 Legalistic versus Opportunistic 41 Hierarchical versus Unstructured 44 Process-Driven versus Results-Driven 47 The Guanxi Gap 48 Perceptions of Singapore Business in China 50 Four Pillars of Singapore Model 51 Strong Government 52 Financial Prosperity 54 Socio-Economic Stability 57 Cosmopolitan Identity 59 The Western Gap 61 Summing Up 63 CHAPTER 3: LEARNING FROM EXPERIENCE 65 Introduction 65 Flexibility is Key 66 Profits are in the Long-Term 68 Building Relationships at All Levels is Essential 70 A Wider View of the Chinese Business World Helps 72 Business Principles Alone will not Ensure Success 74 Summing Up 76 Notes 77 Bibliography 79 Appendices 81 Index 93 vi Contents ...