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Business Ethics and Social Responsibility in Contemporary China

Scott St. Clair, Norman
; 
T. Norris, John
Author(s)
Scott St. Clair, Norman
T. Norris, John
Contributor(s)
Keywords
business ethics
China
Guanxi
International Business
Foreign Corrupt Practices Act
GE Subjects
Political ethics
Economic ethics
Governance and ethics
Development ethics
Business ethics
Ethics of economic systems
Labour/professional ethics
Technology ethics
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Business Ethics
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n111005.pdf
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http://hdl.handle.net/20.500.12424/184221
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Abstract
With China emerging as a power player in international business, the ramifications of conducting business ethically and legally have changed for Chinese as well as Western, and specifically, United States (U.S.) businesses operating in the region. This article Chinese ideological and cultural framework within which Chinese and U.S. businesses negotiate, with the legal requirements of the Foreign Corrupt Practices Act (FCPA) that legislates U.S. business ethics. Specifically, the FCPA views the Chinese business practice of favor and reciprocity (Guanxi) as corruption and bribery. However, given the Chinese government’s recent efforts to curb corruption and corporate malfeasance, and the emergence of a “Confucian firm,” it is evident that the Chinese business landscape is changing. Further research is necessary however, to determine how these developments will affect the global business model, future FCPA legislation, and contemporary business ethics.
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Type
Article
Date
2012-03
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ISBN
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With permission of the license/copyright holder
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