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The better and faster learner wins. That is the clear conclusion that the authors reach in this detailed analysis of why many Western companies fail in their attempts to succeed in China, one of the fastest growing markets in the world and why many Chinese companies encounter difficulties in their overseas ventures. Fundamental errors are made; lessons from the experience of others ignored and the lack of adequate advance planning are just some of the pitfalls to be avoided. This book is intended to help Western companies and executives avoid the common mistakes and to assist their understanding of what is required to make a success of venturing into China, and vice versa, Chinese companies and executives coming onto the world stage. Facts speak for themselves. The book draws on extensive interviews with both Chinese and Western executives and regulators and presents a series of detailed cases to illustrate what went wrong and why. The authors suggest what needs to be done to ensure success, particularly in terms of having learning and building corporate capabilities as the ultimate objectives for any proposed investment/venture. Understanding the Chinese approach to business and being conscious of rules of the road are just two of the key elements.