Update on sales, page-45

I don't know what the panoramic view is with all of the companies who ever went into China in search of vast treasures and becoming truly world class. I do hope that somebody can honestly enlighten us all about the realities there. It would make a great story for some capable and enterprising young journalist to get their teeth into.

From my experience all I have seen is companies going over there with the promise of golden carrots being dangled before them. Next the companies were slowly and excruciatingly decimated with local rules, regulations, and unethical dealings. Contracts appeared and then disappeared as companies spent up big on infrastructure, only to end up in debt as the mythical phoenix like contracts rained back down into ashes. Next came the distasteful and orchestrated change into local ownership, shares effectively plucked from out of shareholder's hands forever and for a pittance.

Effectively they were braced up against a great wall, belted to within an inch of their corporate lives and then booted into capitulation. For some strange reason from my experience, I'm not a really big fan of this belt and braces brigade.

I have yet to personally see a company going there and becoming a massively profitable behemoth. Hopefully, just hopefully, there is a first time for everything lads, aye.