When a Western executive is called on to build business in China what should be his or her mindset? What are the most important things they need to know before they go? Ken Wilcox, former CEO of Silicon Valley Bank, has answers. For three years, Mr Wilcox ran a 50-50 joint venture with the Shanghai Pudong Development Bank. On paper the two partners' mission and objectives were totally aligned. Reality was a different story. In this week's episode, Mr Wilcox delivers a master class in the realities of doing a joint venture in China, from the glorious honeymoon period to the hellscape of unexpected twists, turns, delays and obfuscations. It is pointless to whine or complain, says Wilcox. Just know how things work before you take your first steps and "try to lose your leverage gradually." This week's Driving With Dunne conversation previews Mr Wilcox's forthcoming blockbuster book: One Bed, Two Dreams, scheduled for publication in early 2024.
