Dimensions
130 x 199 x 20mm
The incredible true story of a Wall Street banker who went to China with four hundred million dollars and learned the hard way that China doesn't play by Western rules.
A Wall Street banker, an Englishman, an ex-Red Guard . . . and $418,000,000 disappearing every day.
In the early nineties, China finally opened for business and Wall Street wanted to get in on the act. When the investment bankers arrived from New York with their Harvard MBAs, pinstripes and tasseled loafers, ready to negotiate with the Old Cadres, the stage was set for a collision between Wall Street's billions and the world's oldest culture.
This is the true story of a tough Wall Street banker who came to China looking for glory. Determined to surf the next big investment wave, he teamed up with an ex-Red Guard and a Mandarin-speaking Englishman. Together, they raised over four hundred million US dollars and bought up factories all over China. They thought their contracts were watertight. But then they began learning the hard way that China doesn't play by anyone's rules. Left sitting in their boardrooms while their Chinese partners marched off in their own different directions, they watched as their millions slid towards the abyss.
Faced with no option but to fight, they embarked on a series of desperate battles to regain control of their businesses.
Their struggle in such unfamiliar territory reveals the human face of this vast and complex country that knows it must modernise but throughout history has always kept the advantage when dealing with outsiders.
Tim Clissold tells his at times surreal story with amusement and affection, and the result is eye-opening and exhilarating.
