by Steve Craven, “Learn Chinese Business” guest blogger

I was amused at reports of dismay at the International Monetary Fund when they got a good look at data from Chinese banks to be used for financial stress testing. It’s not that stress tests and risk analysis are amusing. It was the expectation that the Chinese banks would actually give the IMF full and accurate statistics that made me smile.

You see, I learned long ago that Chinese firms keep at least three sets of books: one to show the taxman, one to show the family, and an accurate one for the firm’s patriarch to use doing business. Couple this with the tradition that one pays little attention to a far-away emperor, and it is no surprise that the statistics given to the IMF might not be fully accurate…to continue reading Craven’s full article on how China’s banks may be misleading the IMF with doctored stats. To read the full article, tune into Craven’s blog, Business Beyond The Reef

.
Steve Craven , owner and international advisor at Kekepana International Services,  specializes in trade policy issues, marketing questions, cross-cultural negotiation, dealing with foreign governments, and trouble shooting international business problems.  As a former American diplomat with assignments in Taiwan, Germany, Slovakia, Singapore and Austria, Craven managed the U.S. Department of Commerce’s export promotion offices in Hawaii and in the Rocky Mountain/Southwest states, was in charge of the Commerce Department’s negotiating team for the Tokyo Round trade negotiations, and  has managed American pavilions in the world’s major trade shows. Additionally, he has led U.S. trade missions in Europe and Asia, and contributed to more than $50 billion in sales of American products.  Craven chairs the PlanSea Foundation and has been appointed by the U.S. Secretary of Commerce to chair the Hawaii Pacific Export Council.