Abstract
Abstract An Open Door Policy has encouraged foreign direct investment (FDI) into the People's Republic of China (PRC) since the late 1970s. Cultural affinities and geographic proximities help to explain the dominant investment role of the Nanyang Chinese to date. The PRC is now actively seeking greater participation from Western and Japanese firms. Their technology is deemed critical for further modernization in China. Higher-technology firms are being lured to Shanghai, a city with a cosmopolitan past, a solid industrial tradition and a strategic location. In their own cross-cultural research venture, the authors examined seven pioneering higher-technology joint ventures in greater Shanghai. Each has a Western partner and has achieved success by designing, realizing and maintaining a delicate venture-level equilibrium within a dynamic macroenvironment. These exemplars are used to provide high-technology venturers in liberalizing economies with a comprehensive and empirically-based prescription for success.
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