Some argue that guanxi (relationships and connections) is a unique, Chinese only phenomenon embedded in the Chinese culture. As evidence, they point out that this word, guanxi, has now entered the English language when describing relationship-based strategies in China and is often used in mainstream media (such as the Economist) without explanations provided in brackets.
Others disagree, arguing that every culture has a word or two describing what the Chinese call guanxi, such as blat in Russia, guan he in Vietnam, and “old boys’ network” in the English-speaking world. They suggest that the intensive use of guanxi in China (and elsewhere) is a reflection of the lack of formal institutional frameworks.
Questions (In-depth quality discussions are required, not simple answers):
Which side of the debate would you like to join? Why?
Why is this discussion significant to the business executives?