Podcasts about cheap china

If you work across time zones, borders, and cultures, this is the show for you. Today, we explore the divide between China and the United States and its global repercussions.   The world is increasingly dividing between the U.S. and China. No government or company is immune to the escalating tensions between these two superpowers.   - China's old growth playbook relying on real estate for growth is damaged. What are the new productive forces to drive growth?   - Some analysts argue that Vietnam or India is the next China. This is also part of the diversification of supply chains, the China Plus One strategy. Can Vietnam or India really be the next China?   If you're looking for more, check out the subscriber-only feed. For the cost of one cup of coffee per month, you'll gain access to the full archive and bonus subscriber-only episodes, in addition to regular episodes. Subscribe here.   Joining Leonardo today we have Shaun Rein. He is the Founder and Managing Director of the China Market Research Group (CMR), the world's leading strategic market intelligence firm focused on China. He works with boards, billionaires, heads of states, CEOs and senior executives of Fortune 500 & leading Chinese companies, private equity firms, SMEs and long/ hedge funds to develop their China growth, political and investment strategies.   Rein authored the international best-sellers "The War for China's Wallet: Profiting from the New World Order," "The End of Cheap China” & "The End of Copycat China".  His latest book is “The Split: Finding Opportunities in China's Economy in the New World Order”  Rein is regularly featured in the Wall Street Journal and The Financial Times. His op-eds have appeared in the New York Times. He frequently appears on CBS, CNN, BBC, CNBC, PBS and MSNBC. Rein formerly taught executive education classes for London Business School and was a weekly columnist for CNBC and Forbes. He also wrote a column for Bloomberg BusinessWeek. Rein is one of the most sought out keynote speakers focused on innovation, consumer trends and the economy in China. He served on the Board of Trustees for St. Paul's School and was a member of the Investment Committee. He can be booked via speaker bureaus or directly through CMR. If you work across time zones, borders, and cultures, come on the show to share your story.     - Connect with the host Leonardo Marra    - Subscribe to the LinkedIn Newsletter

Listen to the September 14th, 2024 daily headline round-up and find all the top news that you need to know.

"In your 20s learn how businesses work, how humans work. In your 30s implement your knowledge and make money. And in your 40s start giving back to younger people and society.”  Shaun Rein is the Founder and Managing Director of the China Market Research Group (CMR), the world's leading strategic market intelligence firm focused on China. Shaun is internationally popular economics speaker who works with boards, billionaires, heads of states, CEOs and senior executives of Fortune 500 & leading Chinese companies, private equity firms, SMEs and long/ hedge funds to develop their China growth, political and investment strategies. Shaun is the author of international best-sellers "The War for China's Wallet: Profiting from the New World Order," "The End of Cheap China"​ & "The End of Copycat China"​ — and has been featured in the Wall Street Journal, The Financial Times, the New York Times, Forbes, Bloomberg Businessweek, CBS, CNN, BBC, CNBC, PBS, CNBC, NPR / APM Marketplace, and MSNBC. Born in New Hampshire, Shaun earned his BA from McGill University and his MA from Harvard. He's previously taught executive education classes for London Business School and has served on the Board of Trustees for St. Paul's School. Shaun lives in Shanghai, China. This is part of our Chinese leaders series - hosted by P&G Alumni Emily Chang. Got an idea for a future “Learnings from Leaders” episode? Reach out at pgalumpod@gmail.com

On these “Select” episodes of the show, we'll extract our favourite moments from previous episodes of The International Business Podcast. You can find the links to the guests in the show notes. Enjoy. #89: Decoupling from China With Shaun Rein#46: Business mum With Christine Gouchault#49: Expat executives and brutal truths With Tom RobertsShaun Rein is the Founder and Managing Director of the China Market Research Group (CMR), the world's leading strategic market intelligence firm focused on China. He works with boards, billionaires, heads of states, CEOs and senior executives of Fortune 500 & leading Chinese companies, private equity firms, SMEs and long/ hedge funds to develop their China growth, political and investment strategies. Rein authored the international best-sellers "The War for China's Wallet: Profiting from the New World Order," "The End of Cheap China"​ & "The End of Copycat China."​--- Christine Gouchault is a mother of four and a very successful entrepreneur, sales enablement expert and international author. Time management and work-life balance at its best. Christine has had companies in Denmark and France and helped businesses build and grow international sales teams. Currently she is CCO at NewBanking, a Danish regtech scale-up. NewBanking provides a user identity platform that allows end-users to verify their identity easily and securely across businesses while at the same having control and ownership of their own data and identity online ---After over a decade abroad taking on 5 international assignments and guiding teams in 11 different countries, with country, unit, and regional P&L ownership, Tom Roberts has been through the ups and downs of leading abroad. The stakes are high for your career, your company's objectives, and – perhaps most importantly – for your family.  After 30 years of diverse business experience, Tom founded Cranberry Leadership with the goal of making every expat assignment a success for the company, for the expat leader, for the host team, and for their families. No matter how much you prepare, it's more complex than you think. Self-learning is of paramount importance in the business world, listen to your international peers and step up your game. Connect with the host Leonardo Marra on LinkedIn  Follow the page on LinkedIn 

On this episode Leo interviews Shaun Rein. He is the Founder and Managing Director of the China Market Research Group (CMR), the world's leading strategic market intelligence firm focused on China. He works with boards, billionaires, heads of states, CEOs and senior executives of Fortune 500 & leading Chinese companies, private equity firms, SMEs and long/ hedge funds to develop their China growth, political and investment strategies. Rein authored the international best-sellers "The War for China's Wallet: Profiting from the New World Order," "The End of Cheap China"​ & "The End of Copycat China."​ Publishers Weekly named "Cheap"​ a "Top 10 business book for 2012." The Financial Times called "Copycat"​ "Intriguing" and said of Wallet: “Mr. Rein's insider tales of what it takes to work in contemporary China are insightful...a toolbox for those who want to work with Chinese companies make it a worthwhile read.”Rein is regularly featured in the Wall Street Journal and The Financial Times. His op-eds have appeared in the New York Times. He frequently appears on CBS, CNN, BBC, CNBC, PBS and MSNBC. Rein formerly taught executive education classes for London Business School and was a weekly columnist for CNBC and Forbes. He also wrote a column for Bloomberg BusinessWeek. Rein is one of the most sought out keynote speakers focused on innovation, consumer trends and the economy in China.He serves on the Board of Trustees for St. Paul's School and is a member of the Investment Committee.CMR combines unparalleled local knowledge of China with global expertise: our team is comprised of the finest business minds, who come from a wide variety of backgrounds and experiences.Clients include Apple, Yum! Brands, Crocs, Fidelity, UGG, Warburg Pincus, Richemont, DuPont, AXA Insurance, Electronic Arts, Hugo Boss, SAS Institute (Analytics), Ecco Shoes, LG Electronics, Samsung, SK Group, P&G, LinkedIn, Cofidis, MCM, Bumble Bee, Unitas Capital, CLSA, China Capital Today, Hutchison Whampoa, Aramark, Lane Crawford, Chloe, Juilliard, Duke University, Shanghai American School, Kamet, Esselte, The Math Works (Matlab), Shanghai Tang, Hard Rock International.Connect with Shaun on LinkedIn Self-learning is of paramount importance in the business world, listen to your international peers and step up your game.Connect with the host Leonardo Marra on LinkedIn Follow the page on LinkedIn 

Have you ever been totally scammed after buying something from the internet? In this special pre-recorded inside version of 'Meanderings' Juan and Kyrin discuss: a Chinese scam from TikTok and a dodgy phone holder, buying things online that turn out to be crap, the new PlayStation 5 and buying physical discs, the vulnerability of Terry Crews when he appeared on the Tim Ferriss podcast, how you need the right environment and people to be truly vulnerable, Jon Ronson and his visit to a radical honesty seminar, taking time off gym/exercise to let yourself heal, how the next moment might be your last and why the Mere Mortals love piña coladas! As always, we hope you enjoy, Mere Mortals out!Timeline:0:00 - Intro & Mere Mortal Moments1:37 - Be wary of Chinese scams!!7:06 - XXL suit jacket to fit a child9:50 - The dangers of buying things online11:11 - The two versions of the new PS513:39 - Terry Crews and vulnerability17:05 - The right environment to be vulnerable19:17 - Radical honesty doesn't solve anything23:12 - Rehab your body, do not skip it25:25 - The mindset of 'this might be the last time .....'27:34 - Gratefulness is a word27:57 - We're having some piña coladasAbout Mere Mortals:Striving for excellence through life's lessons. Daily uploads @ 5pm AEST. 4M's, Book Reviews, Musings, Bonus, Themed Podcast, Conversations & Meanderings.Connect with Mere Mortals:Instagram: https://www.instagram.com/mere_mortals_media/

Shaun Rein is the founder and managing director of the China Market Research Group (CMR), a globally prominent strategic market intelligence firm focused on China. He works with boards, billionaires, heads of state, CEOs and senior executives of Fortune 500 and leading Chinese companies, private equity firms, SMEs and hedge funds, to develop their China growth, political and investment strategies. Rein wrote international best-sellers The War for China’s Wallet: Profiting from the New World Order, The End of Cheap China and The End of Copycat China. Rein is regularly featured in The Wall Street Journal and the Financial Times. His op-eds have appeared in The New York Times. He frequently appears on CNN, BBC, MarketPlace, CNBC, Bloomberg, PBS and MSNBC. Rein formerly taught executive education classes for London Business School and was a weekly columnist for CNBC and Forbes. He also wrote a column for Bloomberg BusinessWeek. Rein is one of the world’s most sought after keynote speakers for his focus on innovation, consumer trends and the economy in China. His speaking engagement clients have included: Estée Lauder, Adidas, HSBC, AXA, Credit Suisse, Baker McKenzie, Blackrock, Baillie Gifford, KPMG, Macquarie Bank, Nomura, Baird, Deloitte, CLSA, Solvay, Sodexo, and Nestle. Apart from China and Hong Kong, he has spoken in economies such as South Africa, Australia, the US, the UK, Canada, Singapore, Thailand, Mexico, Vietnam, Japan, and South Korea.   “I had the students but it was very difficult for me to actually turn a profit. The difficulty in human resources in China has become a central theme of my business and most businesses that we’ve worked with over the past two decades. Mine started with the difficulty of hiring foreign talent, but actually the lack of top Chinese talent and the inability to retain good talent has been a major problem for me in my company China market research group ever since we started in 2005.” Shaun Rein   Support our sponsor   Today’s episode is sponsored by the Women Building Wealth membership group, the complete proven step-by-step course to guide women from novice to competent investor. To learn more, visit: WomenBuildingWealth.net.   Worst investment ever In around 2001, while Shaun was a 23-year-old a graduate student at Harvard University, he was putting some thought to the big question: “What am I going to do with my career?” What he did know was he never wanted to go the corporate route and work somewhere like McKinsey or Goldman Sachs, even though most of his classmates were headed in that direction. Instead, he had been interested in entrepreneurship ever since he had run an event-organizing company in Canada while he was a student at McGill University. The company managed 3,000-head dance parties, populated mostly by pre-legal-drinking-age (21) Americans that he bussed up to Montreal, where the legal drinking age is 18. At the time, he was living in Tianjin, China, going to and from there and Cambridge, Massachusetts. He realized there was a great opportunity for teaching English because “Chinese love America”, and they wanted to learn English. Budding idea to start English learning center in China So he decided to set up an English language learning center for 5-15 year olds and teens in China. The center’s focus was on speaking, because a lot of local children could already read and write well, but he and his team wanted them to learn correct American-accented English. So he returned to Tianjin, found Chinese partners, and set the company up with the unique selling point that every teacher would be a current or former Harvard student or teacher. Center opens with a bang but various snags emerge He opened the company and to big celebration. Classes started and people were very excited to have Harvard students or Harvard graduates coming to Tianjin. Within day one, the center had registered more than 300 students. It was a really exciting time but quite soon the enterprise was not to go quite as planned. There were small problems. There were big problems. On opening day, the police came in and said: “We’ll protect you. We want protection money.” Shaun declined so the police rapidly closed down the center. Hard to entice Harvard types to Tianjin On opening day, they had to find new office space, which they did on the campus of Tianjin Normal University. They made a deal to use classrooms and the police could not bother them. So that was one of the “small” problems, the “regulatory” issues with the police. Then they had the bigger problems. Even though the Chinese students wanted to learn from Harvard graduates, Harvard graduates were not too fussed about living in Tianjin. At the turn of the millennium, the enormous port city was polluted and not very amenable. Expensive to set up and maintain Rental costs, even for the time, were quite high in China, especially to fit out a learning center than met the style demands of the parents of the little emperors and empresses. They really wanted to have the nicest classrooms, the best teachers, and the best of everything, which added already the climbing costs. Suffice to say, Shaun made a profit of around 50,000 RMB (less than US$10,000 over the three years the center was operating. He was living in a US$150-dollar-a-month apartment, and could not even pay for his plane ticket to return home. It was a very difficult time. Key test is to fund and retain foreign or Chinese talent He had the students but it was very difficult for him to turn a profit, and the difficulty with human resources in China became a central theme for Shaun. Most businesses he has worked with over the past nearly 20 years started with problems the difficulty of hiring foreign talent. Now the lack of top Chinese talent and the inability to retain them has been a major problem for Shaun and China Market Research Group ever he started the company it in 2005.   “But you’re definitely going to find as a foreign company a very uneven an unfair playing field. So I think the issues I had in my failure two decades ago, are going to be the same issues that companies face today.” Shaun Rein   Some lessons Supply chain is a key issue Many people underestimate the importance of getting raw materials or the inputs for your product or service. In his case, it was Harvard graduates. Infrastructure too is underestimated China has continued to dominate the global economy in the past decade and will continue that due to its incredible infrastructure. China protectionism - true for local and US companies Trump and a lot of people criticize China for being protectionist and unfair to foreign companies but that is only a part of the story. But there’s too much protectionism for state-owned enterprises, such as the Bank of China or China Telecom. So it is an uneven playing field for both foreign and private Chinese companies. It’s very difficult to be a private Chinese company if you are small or medium-sized and lack high-level connections because the government will over-regulate, which stifles innovation. If your company is successful, the government or a state-owned enterprise will take it away.   Actionable advice Get a good team together They can be Chinese or foreign people. What matters is that they are loyal, knowledgeable, and know how to conduct business in China, how to navigate the local market. “You can’t parachute a Chinese-born citizen who has been living in the US for 20 years in to China to run an operation.” China 20 years ago is very different from China today The first thing is to get top talent that understand how to navigate the local Chinese market. President Xi is trying to change the culture of business and politics in China and he is doing so but it will be difficult. But businesses will not be asked for bribes now in China as you would have been 20 years ago.   No. 1 goal for next the 12 months To be a billionaire To make US$250,000 dollars for a single keynote speech. He’s at about US$50,000 now, but he really wants to match Bill Clinton’s rate To get another book or documentary released To produce a five-episode series on Netflix or a similar channel to help Western businessmen and visitors to better understand China   Parting words Yeah, you just can't win unless you know how to lose. So losing is not losing long term if you take the right attitude. But failures are the stepping stones to success.     You can also check out Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr. Deming’s 14 Points  Connect with Shaun Rein LinkedIn Twitter Website Email Connect with Andrew Stotz astotz.com  LinkedIn Facebook  Instagram Twitter  YouTube My Worst Investment Ever Podcast    Further reading mentioned Shaun Rein (2018) The War for China’s Wallet: Profiting from New World Order Shaun Rein (2014) The End of Copycat China: The Rise of Creativity, Innovation, and Individualism in Asia Shaun Rein (2012) The End of Cheap China: Economic and Cultural Trends that Will Disrupt the World      

Discover more tech podcasts like this: Tech Podcast Asia. Produced by Pikkal & Co - Award Winning Podcast Agency. We spoke to Shaun Rein about his new book, 'The War for China's Wallet: Profiting from the New World Order'. A fascinating follow up to his other books...We covered many other topics as well, including the duopoly of TenCent and Alibaba, the massive internet market in China and why it is difficult for foreign firms to succeed and how China has become a hotbed of innovation across many verticals and sectors. Shaun has been in China for almost 20 years and has seen so much change and development that informs his ongoing analyses of China, business in China and the growth of some of the world's largest internet companies. It also gives him a unique perspective on China's changing place on the global stage and its impact on business and geo-politics. Podcast Highlights: [00:09] Asia Tech Podcast Stories with author, founder and managing director Shaun Rein [00:56] Internet challenges in China [01:25] Background about Shaun Rein [02:40] A little bit about the previous books, The End of Cheap China and The End of Copycat China [05:24] Innovations in China especially in payment methods [10:05] 'Boots on the ground' approach [11:57] Thesis around the book, 'The War for China's Wallet: Profiting from the New World Order' [14:25] China's foray into Africa [18:00] The TenCent and Alibaba duopoly [24:00] What will be the impact of Chinese companies in South East Asia? [27:05] What were the mistakes made by the Americans? How to avoid replicating them when the Chinese come in to South East Asia? [33:41] Do you get your books translated? If you do, would you want them sold in China? [37:37] Now that China has caught up, where does it go from here? What's in store for the next 5 years? [40:18] What does 'one belt, one road' mean? [43:22] What is happening in the Greater Bay region? [48:00] The domesticity of the Chinese market

We spoke to Shaun Rein about his new book, 'The War for China's Wallet: Profiting from the New World Order'. A fascinating follow up to his other books…We covered many other topics as well, including the duopoly of TenCent and Alibaba, the massive internet market in China and why it is difficult for foreign firms to succeed and how China has become a hotbed of innovation across many verticals and sectors. Shaun has been in China for almost 20 years and has seen so much change and development that informs his ongoing analyses of China, business in China and the growth of some of the world’s largest internet companies. It also gives him a unique perspective on China’s changing place on the global stage and its impact on business and geo-politics. Podcast Highlights: [00:09] Asia Tech Podcast Stories with author, founder and managing director Shaun Rein [00:56] Internet challenges in China [01:25] Background about Shaun Rein [02:40] A little bit about the previous books, The End of Cheap China and The End of Copycat China [05:24] Innovations in China especially in payment methods [10:05] 'Boots on the ground' approach [11:57] Thesis around the book, 'The War for China's Wallet: Profiting from the New World Order' [14:25] China's foray into Africa [18:00] The TenCent and Alibaba duopoly [24:00] What will be the impact of Chinese companies in South East Asia? [27:05] What were the mistakes made by the Americans? How to avoid replicating them when the Chinese come in to South East Asia? [33:41] Do you get your books translated? If you do, would you want them sold in China? [37:37] Now that China has caught up, where does it go from here? What's in store for the next 5 years? [40:18] What does 'one belt, one road' mean? [43:22] What is happening in the Greater Bay region? [48:00] The domesticity of the Chinese market

We spoke to Shaun Rein about his new book, 'The War for China's Wallet: Profiting from the New World Order'. A fascinating follow up to his other books…We covered many other topics as well, including the duopoly of TenCent and Alibaba, the massive internet market in China and why it is difficult for foreign firms to succeed and how China has become a hotbed of innovation across many verticals and sectors. Shaun has been in China for almost 20 years and has seen so much change and development that informs his ongoing analyses of China, business in China and the growth of some of the world’s largest internet companies. It also gives him a unique perspective on China’s changing place on the global stage and its impact on business and geo-politics. Podcast Highlights: [00:09] Asia Tech Podcast Stories with author, founder and managing director Shaun Rein [00:56] Internet challenges in China [01:25] Background about Shaun Rein [02:40] A little bit about the previous books, The End of Cheap China and The End of Copycat China [05:24] Innovations in China especially in payment methods [10:05] 'Boots on the ground' approach [11:57] Thesis around the book, 'The War for China's Wallet: Profiting from the New World Order' [14:25] China's foray into Africa [18:00] The TenCent and Alibaba duopoly [24:00] What will be the impact of Chinese companies in South East Asia? [27:05] What were the mistakes made by the Americans? How to avoid replicating them when the Chinese come in to South East Asia? [33:41] Do you get your books translated? If you do, would you want them sold in China? [37:37] Now that China has caught up, where does it go from here? What's in store for the next 5 years? [40:18] What does 'one belt, one road' mean? [43:22] What is happening in the Greater Bay region? [48:00] The domesticity of the Chinese market

Originally aired as CW 543. Despite popular belief, China is no longer a cheap place to do business with labor costs and real estate costs soaring. Join Jason Hartman as he interviews Shaun Rein, author of The End of Cheap China and Managing Director of China Market Research Group in Shanghai, about debunking common myths, such as China is stealing U.S. jobs.

   Today I want to look at internal controls for third parties. One of the questions that GSK faced during the bribery and corruption investigation of its Chinese operations is how an allegedly massive bribery and corruption scheme occurred? The dollars paid out went upwards of $500MM, which coincidentally was the amount of the fine levied by the Chinese court on GSK. It is not as if the Chinese medical market is not well known for its propensity towards corruption, as prosecutions of the Foreign Corrupt Practices Act (FCPA) are littered with the names of US companies which came to corruption grief in China. GSK itself seemed to be aware of the corruption risks in China. In a Reuters article, entitled “How GlaxoSmithKline missed red flags in China”, Ben Hirschler reported that the company had “more compliance officers in China than in any country bar the United States”. Further, the company conducted “up to 20 internal audits in China a year, including an extensive 4-month probe earlier in 2013.” GSK even had PricewaterhouseCoopers (PwC) as its outside auditor in China. Nevertheless, he noted, “GSK bosses were blindsided by police allegations of massive corruption involving travel agencies used to funnel bribes to doctors and officials.” Where were the appropriate internal controls? You might think that a company as large as GSK and one that had gone through the ringer of a prior Department of Justice (DOJ) investigation resulting in charges for off-label marketing and an attendant Corporate Integrity Agreement (CIA) might have such controls in place. It was not as if the types of bribery schemes in China were not well known. In an article in the Financial Times (FT), entitled “Bribery built into the fabric of Chinese healthcare system”, reporters Jamil Anderlini and Tom Mitchell wrote about the ‘nuts and bolts’ of how bribery occurs in the health care industry in China. The authors quoted Shaun Rein, a Shanghai-based consultant and author of “The End of Cheap China”, for the following “This is a systemic problem and foreign pharmaceutical companies are in a conundrum. If they want to grow in China they must give bribes. It’s not a choice because officials in health ministry, hospital administrators and doctors demand it.” Their article discussed the two primary methods of paying bribes in China: the direct incentives and indirect incentives method. Anderlini and Mitchell reported, “The 2012 annual reports of half a dozen listed Chinese pharmaceutical companies reveal the companies paid out enormous sums in “sales expenses”, including travel costs and fees for sales meetings, marketing “business development” and “other expenses”. Most of the largest expenses were “travel costs or meeting fees and the expenses of the companies’ sales teams were, in every case, several multiples of the net profits each company earned last year.”” It would be reasonable to expect that internal controls over gifts would be designed to ensure that all gifts satisfy the required criteria, as defined and interpreted in Company policies. It should fall to a Compliance Officer to finalize and approve a definition of permissible and non-permissible gifts, travel and entertainment and internal controls will follow from such definition or criteria set by the company. These criteria would include the amount of the spend, localized down into increased risk such the higher risk recognized in China. Within this context, there are four general internal controls to consider. (1) Is the correct level of person approving the payment / reimbursement? (2) Are there specific controls (and signoffs) that the gift had proper business purpose? (3) Are the controls regarding gifts sufficiently preventative, rather than relying on detect controls? (4) If controls are not followed, is that failure detected? Below are 10 specific inquires you can make regarding your compliance internal controls specific to third parties. 1: Prior to entering the relationship, did management: confirm alignment with business strategy; analyze strategic risk; perform risk/reward analysis; and review its ability to provide adequate oversight and management on an ongoing basis? 2: Can the third-party’s activities be viewed as predatory, discriminatory or abusive? 3: Does your compliance regime include: policies and procedures to help manage third-party relationships; proper internal controls; training; monitoring; and auditing procedures to ensure consistent and ongoing compliance? 4: Was adequate due diligence conducted that included a review of all available information about the third-party (e.g. financial condition, reputation, knowledge of laws, complaints, operations and controls, internal controls and marketing materials? 5: Are expectations and obligations of both the company and the third-party outlined in a written contract prior to entering the relationship? 6: Does the board of director’s review and approve any material third-party relationships? 7: Does the contract outline fees to be paid, management information reports, audit rights, limit use of consumer information, exclusivity language, complaint management process, specifies circumstances that constitute default, dispute resolution process, and provides indemnification provisions? 8: Did the board initially approve the third-party relationship and does it review each significant third-party relationship on at least an annual basis? 9: Is there a process to verify the third-party’s operations are consistent with the written agreement and that risks are being controlled? 10: Does management allocate sufficient qualified staff to monitor significant third-party relationships and provide necessary oversight (and are these activities reported to the board of directors or designated committee)? What is the frequency of exceptions and how are they analyzed/documented/reported to management? When applicable, are you comparing and analyzing the third-party’s sales patterns? Obviously, the use of third-parties can be a powerful and effective way for a business to achieve its strategic goals. This may be one of the key reasons why third-parties are still one of the leading indicia of bribery and corruption. Every compliance program should regularly review its third-party service providers and evaluate internal policies and procedures to ensure compliance. Three Key Takeaways GSK in China continues to be an example of the lack of internal controls for an effective compliance program. General areas of review for compliance internal controls. Third parties are still the highest risk of corruption related issues. For more information on how to improve your internal controls management process, visit this month’s sponsor Workiva at workiva.com.   Learn more about your ad choices. Visit megaphone.fm/adchoices

Shaun Rein is a consultant and analyst based in Shanghai. He's also the author of two books on China. They are The End of Cheap China and The End of Copycat China. He joined Callum on the podcast to discuss: Why the mainstream view of China's currency is wrong… How the Western press rigs and distorts news about China… Why the days of ‘cheap China' are over and what it means for the rest of the world… The two factors most pundits look at that don't reveal what's REALLY happening in China… Which two indicators to watch to gauge the health of China's economy… How China's real estate market is misunderstood and why… The main factor driving Chinese money into Australian and American real estate…  Why Sydney property is actually ‘cheap' for wealthy Chinese… Whether you can trust China's stock market enough to put money in it… The underlying trends in the Chinese economy… And the best opportunities for Australian businesses and entrepreneurs to cash in on over the next 5-10 years… Plus more!

Originally aired as CW 252 Despite popular belief, China is no longer a cheap place to do business with labor costs and real estate costs soaring. Join Jason Hartman as he interviews Shaun Rein, author of The End of Cheap China and Managing Director of China Market Research Group in Shanghai, about debunking common myths, such as China is stealing U.S. jobs. Many companies have begun doing business in China, due to what Shaun refers to as “capitalism on steroids.” Labor costs have increased in China to the tune of around 20 percent, and the government is trying to increase wages yearly over the next five years. Another factor affecting manufacturing costs over time is that fewer of the younger generation wants to be employed in manufacturing jobs, wanting to realize their white class dreams. China is also pushing middle class development to offset the manufacturing issue. Shaun Rein is the Managing Director of CMR, the world's leading strategic market intelligence firm. He is one of the world's recognized thought leaders on strategy consulting. He is a columnist for Forbes on Leadership, Marketing, and China and for BusinessWeek's Asia Insight section. He is often featured in the Wall Street Journal, the Harvard Business Review, The Economist, The Financial Times, Newsweek International, Bloomberg, Time, and the New York Times. He is regularly interviewed by American Public Radio's Marketplace and NPR. He frequently appears to deliver commentary on CNBC's Squawk Box, Bloomberg TV, CBS News, and CNN International TV. Before founding CMR, he was the Chief of Research for venture capital firm Inter-Asia Venture Management. He also was the Managing Director, Country Head China for e-learning software company WebCT where he also ran the company's Taiwan and South Korean operations. He also served as the Assistant Director of the Center for East Asian Research at McGill University. He earned his Master's degree from Harvard University focused on China's economy and received a BA Honors from McGill University.

March 2015 Interview with Harry S. Dent where I review several forecast e made that were unbelievable at the start of 2014, and were the irrefutable FACT just a year later. Harry tells us where we will be a year from now.

Despite popular belief, China is no longer a cheap place to do business with labor costs and real estate costs soaring. Join Jason Hartman as he interviews Shaun Rein, author of The End of Cheap China and Managing Director of China Market Research Group in Shanghai, about debunking common myths, such as China is stealing U.S. jobs. Many companies have begun doing business in China, due to what Shaun refers to as “capitalism on steroids.”  Tune into www.JasonHartman.com for more details. Labor costs have increased in China to the tune of around 20 percent, and the government is trying to increase wages yearly over the next five years. Another factor affecting manufacturing costs over time is that fewer of the younger generation wants to be employed in manufacturing jobs, wanting to realize their white class dreams. China is also pushing middle class development to offset the manufacturing issue.Shaun Rein is the Managing Director of CMR, the world's leading strategic market intelligence firm. He is one of the world's recognized thought leaders on strategy consulting. He is a columnist for Forbes on Leadership, Marketing, and China and for BusinessWeek's Asia Insight section. He is often featured in the Wall Street Journal, the Harvard Business Review, The Economist, The Financial Times, Newsweek International, Bloomberg, Time, and the New York Times. He is regularly interviewed by American Public Radio's Marketplace and NPR. He frequently appears to deliver commentary on CNBC's Squawk Box, Bloomberg TV, CBS News, and CNN International TV. Before founding CMR, he was the Chief of Research for venture capital firm Inter-Asia Venture Management. He also was the Managing Director, Country Head China for e-learning software company WebCT where he also ran the company's Taiwan and South Korean operations. He also served as the Assistant Director of the Centre for East Asian Research at McGill University. He earned his Master's degree from Harvard University focused on China's economy and received a BA Honours from McGill University.

Despite popular belief, China is no longer a cheap place to do business with labor costs and real estate costs soaring. Join Jason Hartman as he interviews Shaun Rein, author of The End of Cheap China and Managing Director of China Market Research Group in Shanghai, about debunking common myths, such as China is stealing U.S. jobs. Many companies have begun doing business in China, due to what Shaun refers to as “capitalism on steroids.” Labor costs have increased in China to the tune of around 20 percent, and the government is trying to increase wages yearly over the next five years. Another factor affecting manufacturing costs over time is that fewer of the younger generation wants to be employed in manufacturing jobs, wanting to realize their white class dreams. China is also pushing middle class development to offset the manufacturing issue.Shaun Rein is the Managing Director of CMR, the world's leading strategic market intelligence firm. He is one of the world's recognized thought leaders on strategy consulting.