tag:blogger.com,1999:blog-7494151078347382877.post60616780157575421..comments2023-11-03T05:02:42.803-07:00Comments on OUR WORLD IN THE 21ST CENTURY: China digs deeper into Africa with bank dealJCLOVE GROUP INSTITUTEhttp://www.blogger.com/profile/09420198485244037320noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7494151078347382877.post-44688343473261360652007-11-15T05:27:00.000-08:002007-11-15T05:27:00.000-08:00Now that ICBC commit to 20% stake in Standard Bank...Now that ICBC commit to 20% stake in Standard Bank this sheds new light on the situation with regards to marginalising of SA Chinese citizens at Standard Bank for separate treatment for Employment Equity (EE) and broad based Black Economic Empowerment (BBBEE) initiatives.<BR/>SA Chinese citizens, who also in the past have been historically and previously disadvantaged, are now unfairly treated on grounds of race at Standard Bank.<BR/>People do not realise that FACE is of utmost importance in Chinese culture. <BR/>Face goes hand in hand with guanxi. Guanxi is the way that business gets done in China.<BR/>Face is defined as "having a high status in the eyes of one's peers, and is a mark of personal dignity."<BR/>Chinese are "acutely sensitive" to "face" and that losing face is bad. <BR/>You can cause someone to lose face by insulting them or criticizing them in front of others.<BR/>You cause harm when you attack their personal dignity and treat unequally and this is in contravention of the SA Constitution.<BR/>Standard Bank may have realised this but maybe too late.<BR/>From the outset when this saga began, all that was asked was for equality and the same decorum to be afforded to all races including minority Chinese at Standard Bank.<BR/>The request at that time was to have the same FACE as everyone else, to be included until clarification and not to be marginalised.<BR/>This is reinforced by the decisions at all the other major financial institutions to include Chinese pending clarification at the courts with regards to EE and BBEE. This saves face.<BR/>Will the ideology of FACE be comprehended?<BR/>Who will have face only time will tell?Facelesshttps://www.blogger.com/profile/08186891282020409035noreply@blogger.com