The COVID-19 pandemic underscored longstanding fissures in China's business relationships with the West. If the West is going to develop a relationship of mutual trust and improve business relations with China in the coming decades, it is imperative to understand how to engage with Chinese thinking on ethics in business-this book explains how. Government officials, businesspeople, and business-ethicists have trouble communicating about issues in ethics, policy, and business across the China-West divide. This book shows how to overcome the us-versus-them mindset plaguing China-West relations by presenting to Western audiences an easy-to-understand yet deeply informed primer on core ideas and perspectives in Chinese cultural and philosophical thought. The book considers original texts of Chinese philosophy and religion, and applies principles from those writings to three business-ethics topics of enduring interest to business executives, government officials, and academics, namely, the protection of intellectual property, assurance of product safety and quality in the pharmaceutical supply chain, and human rights. This book is a must-read for those who want to forge constructive relationships with their Chinese counterparts based on mutual trust and understanding. The book is specifically relevant to business executives, but it should also be of interest to policymakers, educators, and students who seek to communicate more effectively with their Chinese counterparts, in particular about difficult and contentious business, policy, and ethical issues.

Despite the pharmaceutical industry's notable contributions to human progress, including the development of miracle drugs for treating cancer, AIDS, and heart disease, there is a growing tension between the industry and the public. Debates are raging over how the industry can and should be expected to act. In this volume leading figures in industry, government, NGOs, the medical community, and academia discuss and propose solutions to the ethical dilemmas of drug industry behavior. They examine such aspects as the role of intellectual property rights and patent protection, the moral and economic requisites of research and clinical trials, drug pricing, marketing and advertising. . Michael Santoro is Associate Professor with tenure in the Business Environment Department at Rutgers Business School, where he teaches courses on business ethics, public policy, labor and human rights, law, ethical issues in the pharmaceutical industry and China business strategy. As a Research Associate at Harvard Business School, he wrote or co-authored nearly thirty case studies and teaching notes on ethical and legal topics such as global protection of intellectual property, insider trading, the Federal Sentencing Guidelines and Fair Credit Reporting Act. Thomas Gorrie is Corporate Vice President, Government Affairs & Policy, at Johnson & Johnson, with responsiblity for all federal, state and international government affairs and policy. He completed post-doctoral studies at the Swiss Federal Institute of Technology in Zurich, following the receipt of his doctorate at Princeton University. Gorrie has over 30 years of worldwide health care experience and has worked with various Johnson & Johnson companies inresearch and development, marketing and sales, business development, strategic planning, general management, international, venture capital, and health policy.

Despite the pharmaceutical industry's notable contributions to human progress, including the development of miracle drugs for treating cancer, AIDS, and heart disease, there is a growing tension between the industry and the public. Debates are raging over how the industry can and should be expected to act. In this volume leading figures in industry, government, NGOs, the medical community, and academia discuss and propose solutions to the ethical dilemmas of drug industry behavior. They examine such aspects as the role of intellectual property rights and patent protection, the moral and economic requisites of research and clinical trials, drug pricing, marketing and advertising. . Michael Santoro is Associate Professor with tenure in the Business Environment Department at Rutgers Business School, where he teaches courses on business ethics, public policy, labor and human rights, law, ethical issues in the pharmaceutical industry and China business strategy. As a Research Associate at Harvard Business School, he wrote or co-authored nearly thirty case studies and teaching notes on ethical and legal topics such as global protection of intellectual property, insider trading, the Federal Sentencing Guidelines and Fair Credit Reporting Act. Thomas Gorrie is Corporate Vice President, Government Affairs & Policy, at Johnson & Johnson, with responsiblity for all federal, state and international government affairs and policy. He completed post-doctoral studies at the Swiss Federal Institute of Technology in Zurich, following the receipt of his doctorate at Princeton University. Gorrie has over 30 years of worldwide health care experience and has worked with various Johnson & Johnson companies inresearch and development, marketing and sales, business development, strategic planning, general management, international, venture capital, and health policy.

This timely book answers complex and perplexing questions raised by Wall Street's role in the financial crisis. What are the economic and moral connections between Wall Street and the overall economy? How did we arrive at this point in history where our most powerful financial institutions thwart rather than promote free markets, prosperity and even social cohesion? Can the fractured relationship between Wall Street and Main Street be repaired? Wall Street Values chronicles the transformation of Wall Street's business model from serving clients to proprietary trading and explains how this shift undermined the ethical foundations of the modern financial industry. Michael A. Santoro and Ronald J. Strauss argue that post-millennial Wall Street is not only 'too big to fail' but also a threat to the economy even when it succeeds.

After the Tiananmen Square massacre, a vigorous international debate erupted, not only about human rights in China, but also about the role of multinational firms. Should corporations do business in China at all? Should corporations take a stand on such issues? Revelations about serious and pervasive human rights violations in Chinese factories raised even more questions about the clash of profits and principles in China.

Michael Santoro investigates these and other dilemmas, exploring the democratic values firms impart to their employees and the values firms often compromise in pursuit of profits. His interviews with foreign business executives, Chinese employees of foreign firms, human rights advocates, and foreign consular officials provide a range of perspectives. His examination of business responsibility for human rights in China also serves as a unique framework for assessing the broader social trends -- both positive and negative -- arising from globalization.

Santoro discusses the implications of business activities for U.S. foreign policy and provides practical management advice for business executives operating in China and for those considering doing so. Surprisingly, he finds that President Clinton's program of "comprehensive engagement", which has drawn severe criticism, may in fact create a positive human rights "spin-off". Santoro's "fair-share" theory is a unique and thoughtful effort to draw the line between what moral principles do and do not require of businesses operating in China.

Chinese society is plagued by many problems that have a direct impact on its current and future business and political environment-worker rights, product safety, Internet freedom, and the rule of law. Drawing on knowledge gained through personal interviews, documentary sources, and almost two decades of visits to China, Michael A. Santoro offers a clear-eyed view of the various internal forces such as regionalism, corruption, and growing inequality that will determine the direction and pace of economic, social, and political change. Of special interest is Santoro's assessment of the role of multinational corporations in fostering or undermining social and political progress.

Santoro offers a fresh and innovative way of thinking about two questions that have preoccupied Western observers for decades. What will be the effect of economic reform and prosperity on political reform? How can companies operate with moral integrity and ethics in China? In China 2020, Santoro unifies these hitherto separate questions and demonstrates that moral integrity (or lack of it) by Western business will have a profound impact on whether economic privatization and growth usher in greater democracy and respect for human rights.

China 2020 also offers a novel vision of China's future economic and political development. Santoro rejects the conventional view that China will muddle through the next decade with incremental social and political changes. Instead he argues that China will follow one or two widely divergent potential outcomes. It might continue to progress steadily toward greater prosperity, democracy, and respect for human rights, but it is also highly likely that China will instead fall backward economically and into an ever more authoritarian regime. The next decade will be one of the most important in the history of China, and, owing to China's global impact, the history of the modern world.

China 2020 describes various tectonic social and political battles going on within China. The outcomes of these struggles will depend on a number of powerful indigenous forces as well as the decisions and actions of individual Chinese citizens. Santoro strongly believes that Western businesses can-and should-influence these developments."