Guanxi,in the Chinese Business Context,means ________

question 22

Multiple Choice

Guanxi,in the Chinese business context,means ________.

• A) bribing government officials
• B) manufacturing inexpensive products
• C) personal relationships
• D) preference for communism

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Definitions:

Casualty Insurance

Insurance coverage against loss or damage to property or individuals due to an accident, theft, or other unforeseen events.

Insurance Contract

A legally binding agreement between an insurer and an insured, in which the insurer agrees to compensate for specific losses in exchange for a premium.

Breach of Contract

occurs when a party fails to fulfill their obligations under a contract, either by not performing as promised, by interfering with another party's performance, or by repudiating the contract altogether.

Incontestability Clause

A provision in insurance policies that prevents the insurer from disputing the policy's validity after it has been in force for a specific period, usually two years, except under certain circumstances.