Here is an article from an author who was born in China, but grew up in the United States, and now do a lot of business in China.

In Summary:
1.) Chinese Don’t follow rules.
2.) Chinese will copy anything
3.) Trap of Joint ventures because Chinese expectation not the same.
4.) Americans expect tii high margins.
5.) This is according to author - chinese consider Americans stupid ( maybe naive is the right word).

Five Unpleasant Truths of Doing Business in China | China Business Success Stories: China Business Success Stories on Chinese Business and Commerce

China, with 1.3 billion people and a booming economy, is irresistible to most American companies. But a dream does not make reality - over the years many of have tried to crack the mysteries of the Chinese market and many have failed.