Want a promotion? Get China on your resume{aac} first

Thursday, May 10, 2007

HOW many times have you been to China?

The question now pops up in boardrooms, lounges and lecture halls around the globe and is increasingly being raised by businessmen, investors and Nobel laureate economists.

Chinese ground-level access and expertise have always been indispensable credentials in China. But as interest in tapping the country's rapid rise swells, jet-setting businessmen and political luminaries have learnt to brag about their trips to and knowledge of the world's fourth-largest economy.

US Treasury Secretary Henry Paulson visited China more than 70 times while heading Goldman Sachs before assuming his current job, a detail cited in almost every Paulson news story that relates to China.

Morgan Stanley Chief Executive John Mack has been to China almost as many times as Paulson — making about 60 trips — since first setting foot there in the early 1990s.

"Business success in China really depends on long-term commitment and long-term relationships in the region," Mack told a recent China conference in New York.

"Guanxi", or connections, have always been important to doing business in China. But with the flood of investment into the country, China can be selective and foreign investors feel increasingly compelled to demonstrate their commitment to the country and to differentiate themselves from newcomers.

China ties recently helped Morgan Stanley's powerful Chief Economist, Stephen Roach, win the role of Asia Chairman at the Wall Street bank. Roach, known for his early bullishness on China, is one of the few western economists with access to top officials and regulators in Beijing.

Roach, who predicts that China will unseat the US to become the world's largest economy in 2025, visited the country four times last year.

To position themselves for China's rise, multinationals are busy hiring and promoting people with China experience.

Seasoned China hands have already risen to the top of global media companies. Dow Jones & Co in April named Marcus Brauchli, who once headed its China bureau, as the Wall Street Journal's managing editor. Reuters