Opening up shop or allying with business partners in a country that’s part of an emerging market can bring with it some unique challenges. Working through the regulatory landscape in jurisdictions with fast-growing economies, especially if it’s growing a bit faster than the legal regime, isn’t always easy. This is especially true when it comes to anti-corruption, where legal rules and cultural norms sometimes collide and make it harder to do business in a compliant way.
Wayne Elowe, a shareholder at Greenberg Traurig and co-chairman of the firm’s Atlanta corporate and securities practice, has spent a great deal of time advising businesses in China. He told CorpCounsel.com that since so much Chinese industry is government-run, the line between bureaucrat and businessperson frequently gets blurred, meaning that many Chinese business leaders might be more likely to look at decision-making with the risk-averse attitude of a bureaucrat rather than the boldness of an entrepreneur.