The Chinese concept of guanxi is:
A)a set of exchanges of favours to establish trust.
B)a trust system used by Chinese criminals.
C)the belief that business partnerships can be built on marriage between business heirs.
D)the preference to use family members as business partners.

Question

Quizplus · Accepted Answer

The Chinese concept of guanxi refers to a set of exchanges of favors, gifts, and personal connections to establish trust and build long-term relationships. It is an essential aspect of doing business in China, as it helps to create a sense of familiarity and mutual understanding between parties. Guanxi can also be used to gain competitive advantages, such as preferential treatment or access to resources.

The Chinese Concept of Guanxi Is