Kevin Wang's Blog

 Despite overtaking Japan to become the world’s second largest economy, China still remains in the status of a developing country. Aside from the record-high GDP growth, the powerhouse of 1.3 billion have received many controversies regarding it’s business ethics. In the recent article “Chinese Rich Nervous of Charity’s Efforts” by Global Times, China’s upper class is in fear of attending a charity banquet hosted by Bill Gates and Warren Buffett as money may flow “unwillingly” out of their wallets due to the pressure of the two US billionaires.

 Pursuing on, the puppet masters of China’s “post-cultural revolution” era lacks business ethics as the nation is still in a state of blind materialism. Rather than having the economy function to strengthen the country as a whole, individual greed along with government manipulation has stretched the gap between the rich and the poor a metre too far.

 Never the less, the upper class is in fear of having their money taken away from them as many had taken unethical strategies on their route to success. Consumer satisfaction is no longer the goal as many of China’s well-known brands suffered quality crisis over the recent years after achieving initial success.

Sources: The Global Times http://opinion.globaltimes.cn/chinese-press/2010-09/570650.html