A Tag Team Links Two Cultures

JOHN-PAUL HO, IAN MORTON

CRIMSON INVESTMENT, PALO ALTO

When China opened its markets to foreign investment, no one was more eager to go in than John-Paul Ho. Before the communist takeover in 1949, the company his engineer-businessman father ran was the local partner of American companies operating in China. Ho, a Harvard-trained applied engineer and M.B.A., left a prestigious Wall Street investment-banking job to start Crimson Investment in 1993. At first he and his partners found nothing but state-owned companies with outdated equipment, poor management and, understandably, little comprehension of the concepts of capitalism. "I couldn't find any management teams I...

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