They had very fruitful deals actually, however they also came away with a great deal more respect for the Chinese as tough negotiators than you exhibit. One of the things the Chinese are reputed for in negotiations is their art of deception and comfortable opening margins in negotiation … I’m just wondering if your operations could have been even more profitable if your attitude had not bee to “crunch them”.
I grew up with a friend who’s uncle was a Chinese business man and diplomat, he was amazed at the rents that western businessmen would leave on the table because they thought they were getting a good deal early in the negotiation process.