UCD’s Inaugural Global Week was launched on June 11th, 2018. Prof Liming Wang, Director of UCD Confucius Institute for Ireland, delivered a presentation on Doing Business in China: Intercultural Challenges on June 12th, which attracted 100 UCD staff who were interested in Chinese business culture.
Prof Wang started with a map of the world drawn 600 years ago by the Chinese. He explained how the name Middle Kingdom was adopted for China based on its geographic location on the map. He spoke of the 500-year span of China’s GDP evolution and the significance of China’s global economic status today. He informed that China’s fast growing middle class is creating an unprecedented enormous global market.
Prof Wang discussed the economic and trade development between China and Ireland in the past 20 years; he was positive about the bilateral investment and trade relations and prospect. Prof Wang analysed the concept of nation and family based on Confucianism, Buddhism and Taoism, the three formative elements of China’s traditional culture, which extends to guanxi and mianzi, the two key and much valued concepts in China’s business culture.
Prof Wang cited stories and facts with videos and charts to illustrate the intercultural challenges of doing business in China; he also discussed relevant benefits for bilateral business development by comparing the similarities and differences between the two cultures. He summed up the golden rules of doing business in China using the case study of the successful Beijing Dublin International College. The presentation was very well received.