The China context:

    China's history, culture and present situation make it a unique heterogeneous⁴ environment, which will bear heavily on commerce and should not be ignored.

The profit motive⁵:

    Chinese understand the profit motive. So once a foreign investor² establishes an apparent willingness to bear a loss, it can prove remarkably⁶ difficult to turn that stance around and into profit.

Building from the bottom:

    There is no place for firms looking to get in, make a quick killing⁷ and get out again. The best returns are going to be made by those firms that are prepared to invest real time and effort in China.

    "And keep in mind that significant amounts of both will likely be necessary to identify and then establish an initial niche⁸," said Subbaraman.

    Like that of any economy, China's progress will not be smooth, for both cyclical and structural¹⁰ reasons. Firms operating in China should be prepared to put up with setbacks too, as the economy goes through lean years alongside the fat.

The global context:

    China's emergence¹² as a major global player, both economically and politically, will inevitably¹³ bring conflicts in commercial relations.

But the overall probability is that, for the foreseeable future at least, these will be contained and defused without long-term negative impact on firms prepared to ride out the squalls.

 

formula n.a method of doing or treating something that relies on an established, uncontroversial model or approach准则，方案；依据惯用的、无争议的模式或方法而采取的对某些事情的做法或处理方式

context n.the circumstances in which an event occurs; a setting背景；事件发生于其中的环境

heterogeneous a.不同种类的；异类的

commerce n.商业

profit n.利润, 益处, 得益

motive n.动机, 目的

willingness n.自动自发,积极肯干

stance n.姿态

killing n.a sudden large profit暴利；突然获得的大利益

  例：made a killing on the stock market

      在股票市场中获取暴利

niche n.a situation or an activity specially¹⁴ suited to a person's interests, abilities, or nature合适的环境，活动；适合于人的兴趣、能力或性格的环境或活动

  例：found her niche in life

      找到她在生活中的定位

cyclical and structural reasons周期性和结构性的原因

cyclical a.轮转的, 循环的

slowdown n.the act or process of slowing down; a slackening of pace减速，减慢：慢下来的行动或过程；速度的减慢

  例：a production slowdown.

      生产速度的下降

put up with:忍受, 容忍

setback¹¹ n.挫折, 退步

lean a.瘦的, 贫乏的, 歉收的

emergence n.浮现, 露出, 出现

conflict n.斗争, 冲突

contain vt.包含, 容纳, 容忍

defuse vt.to make less dangerous, tense, or hostile缓和，平息：来减少危险性、紧张程度或敌对程度

  例：a diplomatic move that defused the international crisis.

      一个缓和国际危机的外交活动

negative impact负面影响；不良反应

ride out:安全渡过

squall n.暴风

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