Dancing with the Dragon: Cautionary Tales of the New China from an Old China Hand

In an honest and freewheeling conversation with New York Times best-selling author Steve Fiffer, Jenevein recounts the story of his two-decade attempt to work fairly, forthrightly, and faithfully with his Chinese counterparts, his travels via jumbo jets, puddle jumpers, jeeps, and camels, his elation over sealing a groundbreaking deal designed to bring success to everyone, and his disappointment-and disbelief-over being betrayed by his Chinese partners, who had also become friends. Equally important, he reflects on the current state of US-China relations and offers a roadmap for the critical coming years.

In his twenties, Jenevein accidentally fell into the energy business in Texas; in his thirties he serendipitously fell into the energy business in China; and in his forties, he pivoted from building power plants and wind farms to manufacturing wind turbine blades. Within five-plus years, that joint venture with China's state-controlled aviation and military behemoth AVIC was valued at $1.8 billion.

Buoyed by their success, the partners set their sights on the burgeoning wind farm markets in the US, Europe, and South America. When his Chinese partners breached the new venture's contract, Jenevein sought an amicable resolution, but the Communists played by their own rules. In harrowing detail, he relates how they not only refused to settle the dispute but also threatened him and his family.

These tribulations led to a trial with issues that eventually worked their way up to the US Supreme Court. Jenevein painstakingly recreates the prickly David v Goliath proceedings that led to a rare instance in which a US company prevailed against a state-controlled Chinese entity...and actually collected on the judgment.

Jenevein is currently persona non grata in China. But thanks to his unique understanding of that nation's culture, politics, and business, he has built a successful strategic consulting firm whose clients include the US government agencies and numerous multinational corporations. In a thoughtful coda to this cautionary tale, the old China hand shares his thoughts about how to deal with the dragon today and in the future. Educating ourselves about the world's only other superpower is essential, he says. Both entertaining and eye-opening, Dancing with the Dragon is an excellent primer for doing just that.