A distinguishing characteristic of the type of capitalism common in Chinese culture is the emphasis on guanxi as the coordinating principle among firms.

Question

Quizplus · Accepted Answer

Guanxi, which refers to the network of personal connections and relationships that facilitate business and other dealings, is indeed a distinguishing characteristic of the type of capitalism common in Chinese culture. It emphasizes trust, mutual obligations, and the importance of maintaining long-term relationships, playing a crucial role in business practices.

A Distinguishing Characteristic of the Type of Capitalism Common in Chinese