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Published on: 11/9/2007
Last Visited: 11/9/2007
And while foreign businesses have enjoyed tax breaks that China doesn't give its own companies, a new tax law will end that advantage, said Melanie Chen, managing director at tax and business consultant UHY Advisors.And unlike in the United States, "in China, if something is not expressly permitted by law or regulations, you can't do it," she said.
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"The signing of the contract is the beginning of the real negotiations," Chen said."There are two rules: Everything is possible in China.Nothing is easy."
That becomes apparent at the dinner table, where she said the head and tail of a fish are "highly desired" and typically are offered to the guest.
Chen offered one more observation: "In China, telling someone they've gained weight is a compliment."
Meyer, the Wharton School professor, said China's growth shouldn't be a surprise, pointing out that it had been the world's largest economy for centuries, until the mid-19th century.
"What we're seeing now is a return to normalcy," he said.Anderson can be reached at 454-5323 or by e-mail at eanderson@timesunion.com.