In the context of doing business in Asia, what is meant by the phrase "the contract is in the relationship, not on the paper"?

Question

Quizplus · Accepted Answer

In some Asian cultures, building a strong personal relationship with a business partner is essential to the success of the business transaction. Contracts may be seen as a formality, and the true agreement is based on the relationship between the parties involved. Therefore, it is important for managers to focus on building a strong relationship to ensure the reliability of the contract.

In the Context of Doing Business in Asia, What Is