Chinese culture, modernization, and international business

China has been characterized by rapid economic growth and drastic institutional reforms in the last two decades. The convergence argument suggests that Chinese should be become more individualistic, but there is also compelling evidence for the continued influence of traditional culture. Given the current social norms and institutional characteristics in China, materialistic achievement is being emphasized. While many Chinese are enterprising, diligent, and focused on their goals because of their desire to achieve, some succumb to greed, giving rise to widespread corruption. To understand the behavior of Chinese people, it is important to examine the interplay between the contemporary social forces and traditional values and beliefs. Materialistic achievement may be more relevant for economic behavior, whereas the social behavior of Chinese is still guided by traditional values and beliefs.