Word: businessese
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China's Ministry of Commerce rejected the European chamber's complaints of protectionism, saying the country tries to offer a level playing field for all foreign and domestic businesses. But because China has not signed the World Trade Organization agreement that limits protectionism for government procurement, foreign governments have little...
Yakuza gang bosses in Japan give interviews on TV, dine openly with politicians and traditionally hand out business cards, so everyone knows how to find them. Roughly 40,000 mobsters belong to the Yamaguchi-gumi alone. Everybody knows that the yakuza get money from bars and restaurants, construction companies, even...
When the check arrives at the Patpong Thai restaurant in Chingford, England, Reg Burrows usually pays with plastic. But Burrows, the owner of an industrial-storage-supply firm, doesn't pull out Visa or American Express. He pulls out Bartercard. As a member of the Bartercard trading network, Burrows receives...
As businesses battle to get through the recession, more and more are turning to third-party-exchange networks like Bartercard. According to the International Reciprocal Trade Association, the industry trade body, more than 400,000 businesses transacted $10 billion globally in 2008 - and officials expect trade volume to grow by...
Barter, of course, isn't new: firms routinely arrange exchanges on their own. But cultivating those relationships takes time and presents numerous hurdles. "Many direct-barter transactions don't succeed outside of our network because businesses have to match one another in timing and interest," says Wayne Sharpe, Bartercard's...