"When you say that Chinese are wrong- minded. I really dont understand where you get that from. They have totally different perspectives of doing business but I wouldn´t call them wrong minded."
I think he may mean that there is not a great premium placed on honesty in business in China. It may be the difference between Christian and Confucian heritages. I have a friend who is ethnically Chinese but was born in the US and has spent a lot of time in China, and he repeatedly warned me against investing there. As evidence I would guess that at least 80% of the reverse mergers that went public 5-7 years ago are either non-reporting or established frauds. That's why Westerns were hurt so badly: They couldn't imagine that such an extreme scenario would be true.
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