'little red book of business'

James McGregor has a new book, "One Billion Customers: Lessons From The Front Lines of Doing Business in China."

Tuesday's edition of the WSJ reprinted a 'crib sheet' of tips the author has gleaned about the Chinese.

"To be a truly powerful Chinese executive or politician is to be able to avoid responsibility for your decisions.

The Chinese understand the outside world better than the outside world understands them.

Contracts aren't a guarantee of anything. It is the relationship built in negotiating the contract that will give your business some hope.

The Chinese will ask you for anything because you may just be stupid enough to agree to it. Many are.

Avoid joint ventures with government entities unless you have no choice. Then understand that the partnership is about China obtaining your technology, know-how and capital while maintaining Chinese control.

If you decide to sell your soul and succumb to China's corruption, get a good price and focus on charity work in your old age.

In China, a conflict of interest is viewed as a competitive advantage.

Government officials can lie to you, but you must never lie to them. Exclude information, but don't provide false information.

Any tech company doing business in China should assume that its designs and products are being copied. When forced to share your technology in China, isolate the pieces from each other so that your partner doesn't have the whole picture.

If your boss wants to come to China to do a quick deal, lose his or her visa.

China is not one market, but a collection of many local markets. It's often best to start your business as at provincial level where officials are more entrepreneurial. They can be very loyal and protect you.