| ext"> | | | | goods and lifestyle, which were only available in |
| Picture Beijing in the early 1990's â a strong | | | | hotels. |
| visual presence of communism in the typical | | | | The mid-90's brought new perspectives and |
| courtyard-style housing (12 families housed in a block | | | | possibilities to China. Private ownership was booming, |
| built around a central yard), grey Mao suits | | | | bringing changes in life style and rapid expansion |
| everywhere, almost no neon advertising signs and | | | | overnight in the car industry, service industries, street |
| only occasional cars and mini-vans on the streets. In | | | | advertising and real estate. A foreigner wanting to |
| those days there were two currencies: Yuan and | | | | take advantage of the numerous opportunities of |
| FEC(Foreign Exchange Currency) available only to | | | | setting up a private business in China came up against |
| foreigners, with a lower exchange rate than Yuan | | | | a mountain of obstacles presented by Chinese law. |
| (1$=8.9yuan, 1$=7.4FEC). Strong government control, | | | | The only way a foreigner was permitted to start a |
| exacerbated by the recent happenings on Tiananmen | | | | business was in partnership with a local person, who |
| Square, meant that getting to know Chinese people | | | | would have to have a major share of ownership and |
| was almost impossible - they were not allowed to | | | | all legal rights. |
| enter hotels and so had no exposure to foreign | | | | |