In 1994, an American construction and control systems specialist ECG U.S. have formed a joint venture with a Chinese CIG Ltd, Realtone venture to produce and sell the building management system products, such as air conditioning valves and fire safety equipment on the mainland. The joint venture was out of control from the start. Sales were weak and without the knowledge of the ECG USA, a joint venture used complex maneuvers to get contracts. With Realtone unable to generate profits, ECG U.S. decided to dissolve the company as a whole by 2001. However, the Chinese partner was adamant to continue their activities, arguing that Realtone was beneficial to Chinese accounting standards. As the two parties enter into negotiations, as they can find a solution to this quagmire and to protect their interests, while at the same time? "Hide
by Neil O'Connor, Grace Lo Source: University of Hong Kong, 9 pages. Publication Date: August 11, 2011. Prod. #: HKU964-PDF-ENG
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