That's China
Thinking of investing in China? Read this. The full blow-by-blow account of what happened to the that's brand, in the words of its founder Mark Kitto.
I happened to freelance occasionally for that's Shanghai while it was still a brand worth working for: I was even interviewed for a job by Mark Kitto who is a very impressive chap. Driven, canny and courageous. So I certainly feel for him, even more so having read this piece.
Glad the job offer was withdrawn though. Among other reasons, I think Mark may have been trying to protect me.
He basically spent five years of his life striving to build a business in China only for it to be shot down in flames literally overnight. He was still involved in publishing (as far as I know - nearly a year since I left China now) via Hong-Kong based tom.com and Asia and Away magazine, but if he had hoped to become an influential mandarin of Oriental publishing he should, I'm afraid, have stayed at home.
If I was him I'd set up a business warning and advising other entrepreneurs who reckon they'll profit out of China. Which they won't. A US publisher even got cold feet for publishing his book about his experiences - they didn't want to put off their partners in China.
The only people who'll profit from business in China are the Chinese. That's FDI for you...
Comments
Every once in a while a story comes out that really paints an accurate picture of business in China.
'That's China' is an apt title. Indeed, that is China.
Posted by: dave | March 24, 2006 9:51 PM