Host Wenchi Yu speaks with Ken Wilcox, author of The China Business Conundrum: Ensuring Win Win Doesn’t Mean Lose Twice, CEO of Silicon Valley Bank (SVB, 2001-2011) and Vice Chairman of SVB’s joint venture in Shanghai (SSVB) until 2019. He is a former member of the Board of Directors of the Federal Reserve Bank of San Francisco.

Ken characterizes the complexities of the joint venture project as "one bed two dreams," a key reason why Silicon Valley Bank’s project with Shanghai Pudong Development Bank fell short of expectations.

Reflecting on these lessons, Ken advises businesses entering the Chinese market to be thoroughly prepared, understand their leverage, study Chinese negotiation styles from works like Sun Tzu's Art of War, and cultivate strong government relations, recognizing the ultimate control of the government and the Chinese Communist Party over key decisions.

This is a timely discussion as the US and China continue public posturing while expressing a desire for one of the most consequential economic and trade negotiations.

00:00
Introduction to U.S.-China Relations

01:33
Ken Wilcox's Journey in Banking

04:28
The Invitation to China

07:40
Negotiation Dynamics in Joint Ventures

10:26
Cultural Misunderstandings in Business

17:28
Lessons from the Joint Venture Experience

31:23
Knowledge Transfer and Future Relations

35:32
The Complexity of Copying: A Cultural Perspective

39:00
Navigating Chinese Negotiation Styles

44:30
Understanding the Role of the CCP in Business

47:35
American Naivety in International Business

52:54
Cultural Differences and Communication Challenges

01:06:41
Strategies for Successful Business in China

Perspectives with Wenchi Yu

YouTube: https://youtube.com/playlist?list=PLkK1a7U8kP0TgXhvI5Bj70H4cPPlapCdQ&si=RuA_jZROR2ynRbxH

Spotify: https://open.spotify.com/show/6kXiEF08IjtT3j1DyEnBbG?si=68ab3ea172594620

Apple: https://podcasts.apple.com/us/podcast/perspectives-with-wenchi-yu/id1793854395